ABM Industries (NYSE:ABM) Issues FY22 Earnings Guidance

ABM Industries (NYSE:ABMGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.50-$3.70 for the period, compared to the consensus EPS estimate of $3.62. ABM Industries also updated its FY 2022 guidance to $3.50-$3.70 EPS.

Shares of NYSE:ABM traded down $0.86 during midday trading on Wednesday, hitting $49.25. The company’s stock had a trading volume of 325,764 shares, compared to its average volume of 499,146. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50 day simple moving average is $47.76 and its 200 day simple moving average is $45.07. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 26.34 and a beta of 1.10. ABM Industries has a fifty-two week low of $38.44 and a fifty-two week high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last released its earnings results on Tuesday, March 8th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. ABM Industries had a return on equity of 14.86% and a net margin of 1.91%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was up 29.7% on a year-over-year basis. As a group, analysts anticipate that ABM Industries will post 3.61 EPS for the current year.

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ABM Industries from $62.00 to $65.00 in a research report on Wednesday, April 20th. StockNews.com raised shares of ABM Industries from a hold rating to a buy rating in a research report on Friday, May 13th. Finally, Zacks Investment Research downgraded ABM Industries from a buy rating to a hold rating and set a $48.00 target price on the stock. in a research report on Tuesday, May 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and an average target price of $56.00.

In other ABM Industries news, Director Linda Chavez sold 2,008 shares of the stock in a transaction on Friday, March 11th. The stock was sold at an average price of $46.13, for a total transaction of $92,629.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea R. Newborn sold 8,619 shares of the business’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $49.35, for a total transaction of $425,347.65. Following the completion of the sale, the executive vice president now owns 40,976 shares in the company, valued at approximately $2,022,165.60. The disclosure for this sale can be found here. Insiders sold a total of 24,140 shares of company stock worth $1,141,717 in the last three months. Insiders own 0.54% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in ABM Industries by 75.9% in the second quarter. Morgan Stanley now owns 380,239 shares of the business services provider’s stock worth $16,863,000 after purchasing an additional 164,051 shares in the last quarter. UBS Group AG grew its holdings in ABM Industries by 96.7% during the 3rd quarter. UBS Group AG now owns 56,612 shares of the business services provider’s stock worth $2,548,000 after acquiring an additional 27,836 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in ABM Industries in the 3rd quarter valued at about $305,000. Barclays PLC raised its stake in shares of ABM Industries by 0.8% in the fourth quarter. Barclays PLC now owns 320,613 shares of the business services provider’s stock worth $13,097,000 after acquiring an additional 2,521 shares during the last quarter. Finally, Credit Suisse AG lifted its position in shares of ABM Industries by 4.1% during the fourth quarter. Credit Suisse AG now owns 61,022 shares of the business services provider’s stock worth $2,493,000 after purchasing an additional 2,401 shares in the last quarter. 94.65% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Company Profile (Get Rating)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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

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