ABM Industries Incorporated (ABM) to Issue Quarterly Dividend of $0.23 on August 5th

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Thursday, June 6th, Zacks reports. Investors of record on Friday, July 5th will be paid a dividend of 0.225 per share by the business services provider on Monday, August 5th. This represents a $0.90 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, July 5th.

ABM Industries has increased its dividend by an average of 16.6% per year over the last three years and has raised its dividend every year for the last 58 years. ABM Industries has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $3.63 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 24.8%.

ABM Industries Stock Up 0.2 %

ABM Industries stock opened at $50.25 on Wednesday. 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 has a 1-year low of $37.61 and a 1-year high of $53.05. The firm’s fifty day simple moving average is $47.73 and its 200-day simple moving average is $44.51. The company has a market capitalization of $3.15 billion, a P/E ratio of 13.15 and a beta of 1.16.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. Sell-side analysts forecast that ABM Industries will post 3.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andrea R. Newborn sold 12,615 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ABM shares. Robert W. Baird upped their target price on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. UBS Group increased their target price on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Finally, StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, ABM Industries has a consensus rating of “Hold” and a consensus target price of $48.80.

About ABM Industries

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.