ABM Industries (NYSE:ABM) Issues FY21 Earnings Guidance

ABM Industries (NYSE:ABM) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.30-$3.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.18. ABM Industries also updated its FY 2021 guidance to $3.300-3.500 EPS.

ABM Industries stock opened at $47.62 on Friday. The business has a 50-day moving average price of $51.42. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 72.15 and a beta of 1.39. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.37. ABM Industries has a 12-month low of $30.41 and a 12-month high of $55.48.

ABM Industries (NYSE:ABM) last released its earnings results on Monday, June 7th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.11. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. ABM Industries had a net margin of 0.80% and a return on equity of 13.90%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. Equities analysts forecast that ABM Industries will post 3.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Thursday, July 1st will be issued a $0.19 dividend. The ex-dividend date is Wednesday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. ABM Industries’s dividend payout ratio (DPR) is presently 31.28%.

ABM has been the subject of several analyst reports. KeyCorp raised their target price on shares of ABM Industries from $45.00 to $60.00 and gave the stock an overweight rating in a report on Thursday, April 22nd. TheStreet upgraded shares of ABM Industries from a c+ rating to a b rating in a report on Tuesday, March 9th. Finally, Zacks Investment Research lowered shares of ABM Industries from a buy rating to a hold rating and set a $56.00 price objective for the company. in a report on Tuesday, May 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $52.25.

In other news, EVP Andrea R. Newborn sold 7,807 shares of the business’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $53.05, for a total value of $414,161.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $53.03, for a total transaction of $1,325,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,372 shares of company stock valued at $2,504,283. Company insiders own 0.47% of the company’s stock.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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Earnings History and Estimates for ABM Industries (NYSE:ABM)

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