ABM Industries, Inc. (NYSE:ABM) – KeyCorp boosted their Q1 2018 earnings per share estimates for ABM Industries in a research note issued on Friday, according to Zacks Investment Research. KeyCorp analyst J. Box now expects that the business services provider will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.31. KeyCorp also issued estimates for ABM Industries’ Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.70 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.55 EPS and FY2019 earnings at $1.90 EPS.
ABM has been the topic of several other reports. TheStreet downgraded shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Zacks Investment Research raised shares of ABM Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries presently has a consensus rating of “Buy” and an average price target of $49.50.
Shares of ABM Industries (NYSE:ABM) opened at $38.96 on Monday. ABM Industries has a 52-week low of $36.61 and a 52-week high of $45.12. The company has a market capitalization of $2,540.00, a price-to-earnings ratio of 28.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.63 and a current ratio of 1.63.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). ABM Industries had a net margin of 0.07% and a return on equity of 9.74%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company posted $0.51 EPS. ABM Industries’s revenue was up 13.3% on a year-over-year basis.
Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ABM Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 229 shares during the period. Riverhead Capital Management LLC raised its stake in ABM Industries by 60.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 1,328 shares during the period. Hillsdale Investment Management Inc. raised its stake in ABM Industries by 12,666.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 3,800 shares during the period. Bruderman Asset Management LLC acquired a new stake in ABM Industries during the 2nd quarter valued at $164,000. Finally, D.A. Davidson & CO. acquired a new stake in ABM Industries during the 2nd quarter valued at $171,000. 94.09% of the stock is currently owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Thursday, January 4th will be paid a dividend of $0.175 per share. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, January 3rd. ABM Industries’s payout ratio is 50.36%.
TRADEMARK VIOLATION NOTICE: This story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/12/abm-industries-incorporated-abm-forecasted-to-post-q1-2018-earnings-of-0-34-per-share.html.
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.
Get a free copy of the Zacks research report on ABM Industries (ABM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.