ABM Industries (ABM) Scheduled to Post Quarterly Earnings on Thursday

ABM Industries (NYSE:ABMGet Free Report) is scheduled to issue its quarterly earnings data before the market opens on Thursday, March 7th. Analysts expect the company to announce earnings of $0.72 per share for the quarter. ABM Industries has set its FY24 guidance at $3.20-$3.40 EPS and its FY 2024 guidance at 3.200-3.400 EPS.Parties interested in participating in the company’s conference call can do so using this link.

ABM Industries (NYSE:ABMGet Free Report) last released its quarterly earnings results on Wednesday, December 13th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.09. ABM Industries had a net margin of 3.10% and a return on equity of 12.92%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. 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 Trading Up 0.1 %

NYSE:ABM opened at $41.26 on Tuesday. The company has a market capitalization of $2.61 billion, a P/E ratio of 10.89 and a beta of 1.15. The firm has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $42.06. ABM Industries has a 12 month low of $37.61 and a 12 month high of $53.05. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.71.

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 4th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from ABM Industries’s previous quarterly dividend of $0.22. ABM Industries’s payout ratio is currently 23.75%.

Insider Activity

In related news, COO Rene Jacobsen sold 6,341 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $45.50, for a total value of $288,515.50. Following the sale, the chief operating officer now owns 52,849 shares of the company’s stock, valued at approximately $2,404,629.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Andrea R. Newborn sold 9,766 shares of ABM Industries stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.30, for a total value of $471,697.80. Following the completion of the transaction, the executive vice president now directly owns 42,722 shares of the company’s stock, valued at $2,063,472.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rene Jacobsen sold 6,341 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $45.50, for a total value of $288,515.50. Following the completion of the sale, the chief operating officer now directly owns 52,849 shares of the company’s stock, valued at $2,404,629.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,107 shares of company stock worth $2,010,213. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ABM. Amundi acquired a new position in shares of ABM Industries during the fourth quarter worth approximately $36,000. Point72 Asset Management L.P. bought a new position in ABM Industries in the 2nd quarter valued at $46,000. Quarry LP bought a new position in ABM Industries in the 2nd quarter valued at $64,000. Neo Ivy Capital Management bought a new position in ABM Industries in the 2nd quarter valued at $123,000. Finally, Lazard Asset Management LLC lifted its position in shares of ABM Industries by 57.2% during the 4th quarter. Lazard Asset Management LLC now owns 3,874 shares of the business services provider’s stock valued at $172,000 after buying an additional 1,409 shares during the last quarter. Institutional investors own 86.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial increased their price objective on shares of ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 14th. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.20.

Get Our Latest Report on ABM

ABM Industries Company Profile

(Get Free Report)

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.

Featured Articles

Earnings History for ABM Industries (NYSE:ABM)

Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.