ABM Industries (NYSE:ABM – Get Rating) issued an update on its FY22 earnings guidance on Wednesday. The company provided earnings per share (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:ABM – Get 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.
In related news, EVP Andrea R. Newborn sold 8,619 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $49.35, for a total transaction of $425,347.65. Following the completion of the transaction, the executive vice president now owns 40,976 shares in the company, valued at approximately $2,022,165.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Chavez sold 2,008 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $46.13, for a total value of $92,629.04. 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. Bank of Montreal Can increased its stake in shares of ABM Industries by 2.2% in the first quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock valued at $1,000,000 after buying an additional 473 shares in the last quarter. Stifel Financial Corp raised its stake in shares of ABM Industries by 17.8% in the fourth quarter. Stifel Financial Corp now owns 19,830 shares of the business services provider’s stock worth $810,000 after acquiring an additional 2,991 shares during the last quarter. Sei Investments Co. raised its stake in shares of ABM Industries by 15.0% in the first quarter. Sei Investments Co. now owns 17,095 shares of the business services provider’s stock worth $795,000 after acquiring an additional 2,232 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of ABM Industries by 8.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 18,775 shares of the business services provider’s stock worth $767,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Easterly Investment Partners LLC bought a new stake in shares of ABM Industries during the first quarter valued at approximately $459,000. 94.65% of the stock is owned by hedge funds and other institutional investors.
About ABM Industries (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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