KeyCorp upgraded shares of ABM Industries Incorporated (NYSE:ABM) from a sector weight rating to an overweight rating in a research note released on Monday, Marketbeat Ratings reports. They currently have $48.00 target price on the business services provider’s stock. KeyCorp also issued estimates for ABM Industries’ Q4 2018 earnings at $0.54 EPS and FY2019 earnings at $2.10 EPS.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of ABM Industries from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research note on Monday, July 17th. Robert W. Baird set a $50.00 price objective on shares of ABM Industries and gave the stock a buy rating in a research note on Wednesday, May 31st. BidaskClub upgraded shares of ABM Industries from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. Finally, Sidoti upgraded shares of ABM Industries from a neutral rating to a buy rating and increased their price objective for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. ABM Industries has a consensus rating of Buy and a consensus price target of $48.20.
ABM Industries (ABM) opened at 39.75 on Monday. ABM Industries has a 12 month low of $37.12 and a 12 month high of $45.12. The company has a 50-day moving average price of $43.44 and a 200 day moving average price of $42.76. The firm has a market cap of $2.22 billion, a PE ratio of 176.67 and a beta of 0.79.
ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. ABM Industries’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Equities research analysts anticipate that ABM Industries will post $1.88 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. ABM Industries’s payout ratio is currently 251.86%.
In related news, SVP Dean A. Chin sold 632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James P. Mcclure sold 1,970 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $40.87, for a total transaction of $80,513.90. The disclosure for this sale can be found here. Insiders sold 17,099 shares of company stock worth $699,995 in the last 90 days. 1.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in shares of ABM Industries by 15.6% during the first quarter. Macquarie Group Ltd. now owns 747,218 shares of the business services provider’s stock valued at $32,579,000 after acquiring an additional 100,979 shares during the period. Legal & General Group Plc increased its stake in shares of ABM Industries by 0.5% during the first quarter. Legal & General Group Plc now owns 133,692 shares of the business services provider’s stock valued at $5,828,000 after acquiring an additional 729 shares during the period. Gofen & Glossberg LLC IL acquired a new position in shares of ABM Industries during the first quarter valued at approximately $209,000. Bank of Montreal Can increased its stake in shares of ABM Industries by 14.0% during the first quarter. Bank of Montreal Can now owns 7,576 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 931 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of ABM Industries during the first quarter valued at approximately $235,000. Institutional investors and hedge funds own 91.49% of the company’s stock.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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