ABM Industries’ (ABM) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of ABM Industries (NYSE:ABM) in a research report released on Wednesday morning,Weiss Ratings reports.

Several other analysts also recently issued reports on ABM. Robert W. Baird restated a “neutral” rating and set a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Wall Street Zen upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. UBS Group boosted their price objective on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Baird R W downgraded ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and upped their target price for the company from $55.00 to $58.00 in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, ABM Industries currently has an average rating of “Hold” and a consensus target price of $55.67.

ABM Industries Price Performance

NYSE ABM opened at $44.38 on Wednesday. The stock’s 50-day moving average price is $47.03 and its two-hundred day moving average price is $47.69. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.72 billion, a PE ratio of 24.12 and a beta of 0.78. ABM Industries has a 1 year low of $40.85 and a 1 year high of $59.15.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.ABM Industries’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, analysts predict that ABM Industries will post 3.71 EPS for the current year.

ABM Industries declared that its Board of Directors has approved a stock repurchase plan on Friday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is 57.61%.

Institutional Investors Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming grew its stake in shares of ABM Industries by 12.1% in the second quarter. State of Wyoming now owns 12,233 shares of the business services provider’s stock worth $578,000 after acquiring an additional 1,325 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of ABM Industries by 7.5% in the second quarter. Public Sector Pension Investment Board now owns 212,108 shares of the business services provider’s stock worth $10,014,000 after acquiring an additional 14,860 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ABM Industries in the second quarter worth $94,000. Tower Research Capital LLC TRC grew its stake in shares of ABM Industries by 200.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,657 shares of the business services provider’s stock worth $361,000 after acquiring an additional 5,107 shares during the last quarter. Finally, Simcoe Capital Management LLC acquired a new stake in shares of ABM Industries in the second quarter worth $20,720,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

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. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.