ABM Industries Inc. (NYSE:ABM) Receives C$42.33 Average PT from Analysts
Shares of ABM Industries Inc. (NYSE:ABM) have been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the company. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$42.33.
ABM has been the subject of several analyst reports. Imperial Capital upped their target price on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $40.00 target price on shares of ABM Industries in a research note on Wednesday, August 31st.
In other news, EVP Sarah H. Mcconnell sold 8,322 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of C$39.83, for a total value of C$331,465.26. Following the completion of the sale, the executive vice president now owns 66,429 shares of the company’s stock, valued at C$2,645,867.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott J. Giacobbe sold 1,300 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total value of C$50,726.00. Following the completion of the sale, the insider now directly owns 34,183 shares of the company’s stock, valued at approximately C$1,333,820.66. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock valued at $114,480,000 after buying an additional 29,711 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock valued at $4,341,000 after buying an additional 3,600 shares during the last quarter. BlackRock Inc. increased its stake in shares of ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares during the last quarter. SECOR Capital Advisors LP increased its stake in shares of ABM Industries by 188.0% in the second quarter. SECOR Capital Advisors LP now owns 111,733 shares of the company’s stock valued at $4,076,000 after buying an additional 72,934 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock valued at $3,591,000 after buying an additional 6,235 shares during the last quarter. 90.56% of the stock is owned by institutional investors.
Shares of ABM Industries (NYSE:ABM) opened at 38.78 on Tuesday. ABM Industries has a 52-week low of $26.50 and a 52-week high of $40.47. The firm has a 50-day moving average price of $38.96 and a 200-day moving average price of $35.79. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 25.08 and a beta of 0.75.
ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Analysts predict that ABM Industries will post $1.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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