Published On: Fri, Sep 9th, 2016

ABM Industries Inc. (ABM) Sees Unusually-High Trading Volume on Earnings Beat

Shares of ABM Industries Inc. (NYSE:ABM) saw unusually-high trading volume on Wednesday following a better than expected earnings announcement. Approximately 206,199 shares changed hands during trading, an increase of 12% from the previous session’s volume of 184,600 shares.The stock last traded at $38.50 and had previously closed at $38.99.
The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. During the same period last year, the business earned $0.47 earnings per share. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 64.08%.

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ABM has been the topic of a number of recent research reports. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Robert W. Baird reissued an “outperform” rating and set a $40.00 target price on shares of ABM Industries in a research report on Wednesday, August 31st. Finally, Imperial Capital raised their price target on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$28.80.
In other news, insider Scott J. Giacobbe sold 13,700 shares of ABM Industries stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at C$1,312,953.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas J. Marano sold 25,725 shares of ABM Industries stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of C$36.91, for a total transaction of C$949,509.75. Following the completion of the transaction, the insider now owns 15,288 shares of the company’s stock, valued at approximately C$564,280.08. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
The stock has a market capitalization of $2.26 billion, a P/E ratio of 39.47 and a beta of 0.78. The stock’s 50-day moving average price is $37.89 and its 200-day moving average price is $34.61.
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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