Q1 2018 Earnings Estimate for ABM Industries, Inc. Issued By KeyCorp (NYSE:ABM)

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%.

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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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Earnings History and Estimates for ABM Industries (NYSE:ABM)

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