ABM Industries (ABM) Set to Announce Earnings on Friday

ABM Industries (NYSE:ABM) is set to announce its earnings results before the market opens on Friday, September 6th. Analysts expect the company to announce earnings of $0.85 per share for the quarter. ABM Industries has set its FY 2024 guidance at 3.400-3.500 EPS and its FY24 guidance at $3.40-3.50 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. On average, analysts expect ABM Industries to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $56.27 on Friday. ABM Industries has a 1-year low of $37.61 and a 1-year high of $56.78. The firm has a fifty day simple moving average of $52.96 and a 200-day simple moving average of $47.55. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.73 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 5th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott B. Salmirs sold 11,736 shares of ABM Industries stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their price target on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.80.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.