Published On: Sat, Sep 10th, 2016

ABM Industries Inc. (ABM) Receives “Outperform” Rating from Robert W. Baird

ABM Industries Inc. (NYSE:ABM)‘s stock had its “outperform” rating restated by stock analysts at Robert W. Baird in a research note issued to investors on Saturday. They presently have a $44.00 price target on the stock.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Imperial Capital increased their price objective on shares of ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ABM Industries presently has an average rating of “Buy” and a consensus target price of C$32.05.
Shares of ABM Industries (NYSE:ABM) opened at 38.58 on Friday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 37.68 and a beta of 0.78. ABM Industries has a one year low of $26.50 and a one year high of $40.47. The company’s 50 day moving average price is $37.93 and its 200 day moving average price is $34.66.

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ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, analysts expect that ABM Industries will post $1.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s payout ratio is currently 42.58%.
In other news, Director Maryellen C. Herringer sold 1,854 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of C$36.83, for a total transaction of C$68,282.82. Following the completion of the sale, the director now directly owns 156,777 shares in the company, valued at C$5,774,096.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott J. Giacobbe sold 13,700 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total transaction of C$538,821.00. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at C$1,312,953.39. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock valued at $114,480,000 after buying an additional 29,711 shares during the period. Prudential Financial Inc. boosted its stake in ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock valued at $4,341,000 after buying an additional 3,600 shares during the period. BlackRock Inc. boosted its stake in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares during the period. Norges Bank purchased a new stake in ABM Industries during the fourth quarter valued at $15,596,000. Finally, Bayesian Capital Management LP purchased a new stake in ABM Industries during the first quarter valued at $204,000. Institutional investors own 90.65% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.

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