ABM Industries (NYSE:ABM) Updates FY24 Earnings Guidance

ABM Industries (NYSE:ABM) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $3.48-3.55 for the period, compared to the consensus EPS estimate of $3.47. ABM Industries also updated its FY 2024 guidance to 3.480-3.550 EPS.

ABM Industries Stock Performance

ABM traded down $3.19 on Friday, hitting $52.91. The company had a trading volume of 251,112 shares, compared to its average volume of 551,110. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 13.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $53.51 and its 200 day moving average price is $48.10. ABM Industries has a 1-year low of $37.61 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. ABM Industries’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Equities analysts predict that ABM Industries will post 3.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group boosted their price objective on ABM Industries from $45.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, June 7th. StockNews.com lowered shares of ABM Industries from a buy rating to a hold rating in a research report on Friday, August 2nd. Finally, 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $48.80.

Insider Activity

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the sale, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the transaction, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the sale, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

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.