ABM Industries (NYSE:ABM) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.95-2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.03. ABM Industries also updated its FY19 guidance to $1.95-2.05 EPS.
Shares of ABM stock traded up $0.72 during trading hours on Thursday, reaching $37.37. 423,338 shares of the company’s stock were exchanged, compared to its average volume of 434,120. ABM Industries has a fifty-two week low of $25.64 and a fifty-two week high of $42.67. The stock has a market capitalization of $2.43 billion, a P/E ratio of 19.77 and a beta of 0.64. The business has a fifty day moving average price of $39.53 and a 200-day moving average price of $38.01. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.
ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, June 5th. The business services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. ABM Industries had a return on equity of 8.82% and a net margin of 1.33%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that ABM Industries will post 2.02 EPS for the current fiscal year.
A number of research analysts have recently commented on ABM shares. ValuEngine lowered ABM Industries from a buy rating to a hold rating in a report on Thursday, August 1st. William Blair started coverage on ABM Industries in a report on Thursday, August 15th. They set a market perform rating for the company. Finally, Maxim Group reiterated a buy rating and set a $50.00 price target on shares of ABM Industries in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $41.71.
In related news, CAO Dean A. Chin sold 1,329 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.95, for a total value of $53,093.55. Following the completion of the transaction, the chief accounting officer now directly owns 19,976 shares in the company, valued at $798,041.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rene Jacobsen sold 1,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $38.22, for a total value of $57,330.00. The disclosure for this sale can be found here. Insiders sold 19,904 shares of company stock valued at $806,797 over the last 90 days. 0.94% of the stock is currently owned by corporate insiders.
ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
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