ABM Industries, Inc. (NYSE:ABM) shares hit a new 52-week high and low during mid-day trading on Monday . The company traded as low as $32.35 and last traded at $32.81, with a volume of 468218 shares. The stock had previously closed at $33.48.
ABM has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of ABM Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, December 15th. Robert W. Baird set a $40.00 price target on shares of ABM Industries and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, TheStreet downgraded shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $45.75.
The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2,194.97, a PE ratio of 19.13 and a beta of 0.83.
ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). ABM Industries had a return on equity of 8.33% and a net margin of 1.55%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 19.7% compared to the same quarter last year. analysts expect that ABM Industries, Inc. will post 1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $0.70 annualized dividend and a dividend yield of 2.13%. ABM Industries’s dividend payout ratio is presently 40.00%.
In other news, Director Linda Chavez sold 2,103 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $38.89, for a total transaction of $81,785.67. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $643,901.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of ABM. Fusion Family Wealth LLC purchased a new stake in ABM Industries in the 4th quarter valued at $158,000. Gofen & Glossberg LLC IL purchased a new stake in ABM Industries in the 3rd quarter valued at $200,000. Centiva Capital LP purchased a new stake in ABM Industries in the 4th quarter valued at $239,000. CIBC Asset Management Inc purchased a new stake in ABM Industries in the 4th quarter valued at $265,000. Finally, Meadow Creek Investment Management LLC raised its position in ABM Industries by 22.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 7,700 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 1,428 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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