ABM Industries Inc. (ABM) Downgraded by Sidoti
Several other research firms have also recently weighed in on ABM. Zacks Investment Research cut shares of ABM Industries from a buy rating to a sell rating in a report on Tuesday, August 9th. Robert W. Baird restated an outperform rating and set a $44.00 price target on shares of ABM Industries in a report on Saturday, September 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ABM Industries currently has an average rating of Hold and a consensus target price of C$42.33.
ABM Industries (NYSE:ABM) opened at 43.01 on Wednesday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 27.82 and a beta of 0.79. ABM Industries has a 12 month low of $26.50 and a 12 month high of $43.71. The firm’s 50 day moving average is $39.22 and its 200-day moving average is $37.20.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, equities analysts forecast that ABM Industries will post $1.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, October 4th. ABM Industries’s dividend payout ratio is 42.58%.
In other ABM Industries news, CFO Diego Anthony Scaglione sold 700 shares of ABM Industries stock in a transaction dated Monday, November 14th. The shares were sold at an average price of C$42.50, for a total value of C$29,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott J. Giacobbe sold 1,300 shares of ABM Industries stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total transaction of C$50,726.00. Following the completion of the sale, the insider now directly owns 34,183 shares in the company, valued at approximately C$1,333,820.66. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ABM Industries by 4.1% in the second quarter. Vanguard Group Inc. now owns 4,638,251 shares of the company’s stock valued at $169,204,000 after buying an additional 181,730 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of ABM Industries by 8.2% in the third quarter. BlackRock Fund Advisors now owns 3,978,525 shares of the company’s stock valued at $157,947,000 after buying an additional 301,776 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ABM Industries by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,018,143 shares of the company’s stock valued at $110,100,000 after buying an additional 58,720 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of ABM Industries by 30.2% in the second quarter. Alliancebernstein L.P. now owns 2,676,142 shares of the company’s stock valued at $97,626,000 after buying an additional 620,108 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of ABM Industries by 3.1% in the third quarter. Capital Research Global Investors now owns 2,523,000 shares of the company’s stock valued at $100,163,000 after buying an additional 76,000 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.
About ABM Industries
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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