ABM Industries (NYSE:ABM) Releases FY 2024 Earnings Guidance

ABM Industries (NYSE:ABM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 3.480-3.550 for the period, compared to the consensus EPS estimate of 3.470. The company issued revenue guidance of -. ABM Industries also updated its FY24 guidance to $3.48-3.55 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABM. Robert W. Baird increased their price objective on ABM Industries from $48.00 to $49.00 and gave the stock a neutral rating in a report on Monday, June 10th. StockNews.com cut shares of ABM Industries from a buy rating to a hold rating in a research note on Friday, August 2nd. Finally, UBS Group raised 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $48.80.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $51.29 on Friday. ABM Industries has a fifty-two week low of $37.61 and a fifty-two week high of $59.78. 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 has a market cap of $3.22 billion, a PE ratio of 13.43 and a beta of 1.14. The firm has a fifty day moving average price of $53.53 and a two-hundred day moving average price of $48.23.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that ABM Industries will post 3.46 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.75%. ABM Industries’s payout ratio is 23.56%.

Insider Buying and Selling

In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 40,000 shares of the 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 completion of the sale, the chief operating officer now owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock valued at $4,039,248 over the last ninety days. 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.