ABM Industries (NYSE:ABM) reached a new 52-week high and low during trading on Wednesday . The stock traded as low as $29.27 and last traded at $29.52, with a volume of 11673 shares. The stock had previously closed at $29.77.
Several equities research analysts have recently commented on ABM shares. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Robert W. Baird set a $40.00 price objective on shares of ABM Industries and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, ValuEngine downgraded shares of ABM Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.75.
The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market capitalization of $1.97 billion, a P/E ratio of 16.79 and a beta of 0.84.
ABM Industries (NYSE:ABM) last posted its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. research analysts expect that ABM Industries will post 1.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 7th. Shareholders of record on Thursday, April 5th were issued a $0.175 dividend. The ex-dividend date was Wednesday, April 4th. This represents a $0.70 dividend on an annualized basis and a yield of 2.38%. ABM Industries’s payout ratio is 40.00%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in ABM Industries by 19.2% in the first quarter. Principal Financial Group Inc. now owns 502,436 shares of the business services provider’s stock valued at $16,822,000 after buying an additional 81,049 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in ABM Industries in the first quarter valued at $375,000. Legal & General Group Plc increased its holdings in ABM Industries by 6.8% in the first quarter. Legal & General Group Plc now owns 158,026 shares of the business services provider’s stock valued at $5,280,000 after buying an additional 10,087 shares in the last quarter. Verition Fund Management LLC increased its holdings in ABM Industries by 21.3% in the first quarter. Verition Fund Management LLC now owns 13,355 shares of the business services provider’s stock valued at $447,000 after buying an additional 2,343 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in ABM Industries by 274.0% in the first quarter. Cubist Systematic Strategies LLC now owns 16,319 shares of the business services provider’s stock valued at $546,000 after buying an additional 11,956 shares in the last quarter. 99.83% of the stock is owned by institutional investors.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
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