ABM Industries Incorporated (NYSE:ABM) Receives Consensus Rating of “Hold” from Brokerages

Shares of ABM Industries Incorporated (NYSE:ABM) have been assigned an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $55.6667.

A number of brokerages have issued reports on ABM. Robert W. Baird reissued a “neutral” rating and set a $54.00 price objective (down from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Baird R W cut shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Finally, UBS Group raised their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th.

ABM Industries Stock Up 1.5%

Shares of ABM opened at $42.27 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $44.29 and a two-hundred day moving average price of $46.98. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 22.97 and a beta of 0.76. ABM Industries has a 12 month low of $40.00 and a 12 month high of $58.18.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Equities analysts predict that ABM Industries will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd were given a $0.265 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $1.06 annualized dividend and a yield of 2.5%. ABM Industries’s payout ratio is presently 57.61%.

ABM Industries declared that its board has initiated a share buyback plan on Friday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On ABM Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of ABM Industries by 590.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after purchasing an additional 520 shares in the last quarter. Summit Securities Group LLC bought a new position in ABM Industries in the 1st quarter worth approximately $38,000. Quarry LP lifted its holdings in ABM Industries by 667.0% during the 3rd quarter. Quarry LP now owns 882 shares of the business services provider’s stock worth $41,000 after buying an additional 767 shares in the last quarter. Federated Hermes Inc. lifted its holdings in ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock worth $44,000 after buying an additional 477 shares in the last quarter. Finally, Kiker Wealth Management LLC bought a new position in ABM Industries in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 91.62% 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.