ABM Industries Incorporated (ABM) To Go Ex-Dividend on October 3rd

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Friday, September 6th, NASDAQ reports. Stockholders of record on Thursday, October 3rd will be paid a dividend of 0.225 per share by the business services provider on Monday, November 4th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, October 3rd.

ABM Industries has increased its dividend by an average of 16.6% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $3.65 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 24.7%.

ABM Industries Stock Down 8.6 %

Shares of NYSE:ABM opened at $51.29 on Friday. The stock’s 50-day moving average price is $53.53 and its 200-day moving average price is $48.23. ABM Industries has a 12-month low of $37.61 and a 12-month high of $59.78. The stock has a market capitalization of $3.22 billion, a P/E ratio of 13.43 and a beta of 1.14. 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 (NYSE:ABM) last announced its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that ABM Industries will post 3.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABM shares. Robert W. Baird increased 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. UBS Group increased their target price on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.80.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the sale, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the firm’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 transaction of $1,222,500.00. Following the completion of the transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total transaction of $103,529.40. Following the transaction, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at approximately $937,595.10. The disclosure for this sale can be found here. Insiders sold 78,778 shares of company stock worth $4,039,248 over the last three months. Company insiders own 1.04% of the company’s stock.

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.