FY2024 EPS Estimates for ABM Industries Incorporated (NYSE:ABM) Raised by Analyst

ABM Industries Incorporated (NYSE:ABM) – Stock analysts at William Blair lifted their FY2024 earnings estimates for shares of ABM Industries in a research note issued to investors on Thursday, June 6th. William Blair analyst T. Mulrooney now anticipates that the business services provider will post earnings of $3.48 per share for the year, up from their previous estimate of $3.39. The consensus estimate for ABM Industries’ current full-year earnings is $3.43 per share. William Blair also issued estimates for ABM Industries’ Q4 2024 earnings at $0.88 EPS, Q1 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.05 EPS and FY2025 earnings at $3.80 EPS.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. ABM Industries’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS.

Separately, UBS Group upped their price target on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.00.

ABM Industries Stock Performance

NYSE:ABM opened at $50.94 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. ABM Industries has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a market cap of $3.22 billion, a PE ratio of 13.34 and a beta of 1.16. The firm’s fifty day simple moving average is $45.51 and its 200-day simple moving average is $43.64.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.77%. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Insider Transactions at ABM Industries

In related news, EVP Andrea R. Newborn sold 12,615 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,063,115. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares in the company, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea R. Newborn sold 12,615 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at $2,063,115. The disclosure for this sale can be found here. Insiders have sold a total of 23,643 shares of company stock valued at $1,055,490 in the last ninety days. 1.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ABM Industries

Several institutional investors and hedge funds have recently made changes to their positions in ABM. Quantbot Technologies LP purchased a new stake in shares of ABM Industries in the 3rd quarter worth about $151,000. Swiss National Bank lifted its holdings in ABM Industries by 1.0% in the 3rd quarter. Swiss National Bank now owns 145,400 shares of the business services provider’s stock valued at $5,817,000 after purchasing an additional 1,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ABM Industries by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock valued at $24,474,000 after purchasing an additional 15,976 shares in the last quarter. Van ECK Associates Corp lifted its holdings in ABM Industries by 26.2% in the 3rd quarter. Van ECK Associates Corp now owns 67,585 shares of the business services provider’s stock valued at $2,704,000 after purchasing an additional 14,029 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in ABM Industries by 27.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,385 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 1,584 shares in the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

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.