ABM Industries (NYSE:ABM) announced its quarterly earnings data on Thursday. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04, Briefing.com reports. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.65 billion. ABM Industries had a net margin of 1.40% and a return on equity of 7.79%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. ABM Industries updated its FY18 guidance to $1.85-1.95 EPS.
ABM opened at $34.46 on Friday. ABM Industries has a 1-year low of $28.17 and a 1-year high of $44.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $2.10 billion, a PE ratio of 19.69 and a beta of 0.77.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Stockholders of record on Thursday, October 4th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.03%. ABM Industries’s payout ratio is currently 40.00%.
In other news, COO Scott J. Giacobbe sold 3,342 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $30.90, for a total value of $103,267.80. Following the sale, the chief operating officer now directly owns 62,186 shares in the company, valued at approximately $1,921,547.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of ABM Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 28th. Robert W. Baird downgraded shares of ABM Industries from an “outperform” rating to a “neutral” rating and raised their price target for the company from $36.00 to $40.00 in a research note on Thursday, August 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of ABM Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.67.
ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
See Also: Return on Equity (ROE)
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