ABM Industries (NYSE:ABM) Updates FY 2024 Earnings Guidance

ABM Industries (NYSE:ABM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.480-3.550 for the period, compared to the consensus earnings per share estimate of 3.470. The company issued revenue guidance of -. ABM Industries also updated its FY24 guidance to $3.48-3.55 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group upped their target price on ABM Industries from $45.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, June 7th. Robert W. Baird upped their price objective on shares of ABM Industries from $48.00 to $49.00 and gave the stock a neutral rating in a report on Monday, June 10th. Finally, StockNews.com lowered shares of ABM Industries from a buy rating to a hold rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $50.25.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $51.29 on Monday. ABM Industries has a 12 month low of $37.61 and a 12 month high of $59.78. The company has a market cap of $3.22 billion, a P/E ratio of 13.43 and a beta of 1.14. The business’s 50 day moving average is $53.53 and its two-hundred day moving average is $48.29. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

ABM Industries (NYSE:ABM) last announced its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. ABM Industries’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that ABM Industries will post 3.46 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is presently 23.56%.

Insider Buying and Selling

In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the completion of the sale, the chief executive officer now owns 366,655 shares in the company, valued at approximately $20,195,357.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The disclosure for this sale can be found here. Insiders have sold a total of 78,778 shares of company stock valued at $4,039,248 over the last three months. 1.04% of the stock is owned by corporate insiders.

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.