ABM Industries (NYSE:ABM) Updates FY 2023 Earnings Guidance

ABM Industries (NYSE:ABM) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.40-$3.50 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of -.

ABM Industries Price Performance

ABM opened at $44.78 on Thursday. ABM Industries has a fifty-two week low of $37.68 and a fifty-two week high of $49.58. The firm has a 50-day moving average of $44.47 and a 200 day moving average of $44.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $2.96 billion, a P/E ratio of 15.23 and a beta of 1.07.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Tuesday, June 6th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ABM Industries had a net margin of 2.47% and a return on equity of 13.63%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $0.89 EPS. ABM Industries’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that ABM Industries will post 3.51 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on ABM shares. StockNews.com started coverage on ABM Industries in a research note on Thursday, August 17th. They issued a hold rating on the stock. UBS Group assumed coverage on shares of ABM Industries in a research note on Wednesday, May 31st. They issued a neutral rating and a $48.00 price objective for the company.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently modified their holdings of ABM. Wellington Management Group LLP purchased a new stake in ABM Industries in the 1st quarter worth approximately $253,000. Centiva Capital LP purchased a new stake in shares of ABM Industries in the fourth quarter worth $228,000. CI Private Wealth LLC bought a new stake in ABM Industries during the fourth quarter valued at $213,000. Humankind Investments LLC purchased a new position in ABM Industries during the second quarter worth about $212,000. Finally, Ethic Inc. bought a new position in ABM Industries in the 1st quarter worth about $212,000. 86.42% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.