ABM Industries Incorporated (ABM) To Go Ex-Dividend on January 2nd

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.265 per share by the business services provider on Monday, February 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23.

ABM Industries has increased its dividend by an average of 16.6% annually over the last three years and has increased its dividend every year for the last 58 years. ABM Industries has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect ABM Industries to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 29.0%.

ABM Industries Price Performance

ABM Industries stock opened at $51.38 on Tuesday. The stock’s 50 day moving average is $54.92 and its 200 day moving average is $53.45. ABM Industries has a one year low of $39.64 and a one year high of $59.78. The firm has a market cap of $3.20 billion, a P/E ratio of 21.23 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. As a group, research analysts expect that ABM Industries will post 3.53 EPS for the current year.

Insider Activity

In related news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the subject of a number of research analyst reports. UBS Group lifted their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Robert W. Baird increased their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Truist Financial raised their target price on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th.

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.