ABM Industries Incorporated (ABM) to Issue Quarterly Dividend of $0.27 on November 3rd

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Friday, September 5th, RTT News reports. Stockholders of record on Thursday, October 2nd will be given a dividend of 0.265 per share by the business services provider on Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, October 2nd.

ABM Industries has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 25.9%.

ABM Industries Price Performance

ABM Industries stock opened at $48.27 on Friday. ABM Industries has a 52-week low of $40.85 and a 52-week high of $59.78. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 26.23 and a beta of 0.80. The company has a fifty day simple moving average of $48.06 and a 200-day simple moving average of $48.50. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%.The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $0.87 EPS. ABM Industries’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that ABM Industries will post 3.71 EPS for the current fiscal year.

Analyst Ratings Changes

ABM has been the subject of a number of research reports. Robert W. Baird raised shares of ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 target price for the company in a report on Monday, June 9th. Wall Street Zen lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Baird R W raised shares of ABM Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Truist Financial raised shares of ABM Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $55.00 to $58.00 in a report on Wednesday, July 2nd. Finally, UBS Group raised shares of ABM Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $54.00 in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $56.00.

About ABM Industries

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.