ABM Industries Incorporated (NYSE:ABM) Receives Average Rating of “Hold” from Analysts

Shares of ABM Industries Incorporated (NYSE:ABM) have earned a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $55.6667.

ABM has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Baird R W cut shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $54.00 target price (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th.

ABM Industries Price Performance

Shares of NYSE ABM opened at $43.03 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49. ABM Industries has a fifty-two week low of $40.00 and a fifty-two week high of $57.93. The stock has a market cap of $2.64 billion, a PE ratio of 23.39 and a beta of 0.76. The stock has a fifty day moving average of $44.15 and a 200-day moving average of $46.80.

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

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.5%. ABM Industries’s payout ratio is presently 57.61%.

ABM Industries declared that its board has approved a share buyback program on Friday, September 5th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in ABM Industries by 590.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 520 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of ABM Industries in the 1st quarter worth about $38,000. Quarry LP increased its position in shares of ABM Industries by 667.0% during the 3rd quarter. Quarry LP now owns 882 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 767 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after buying an additional 477 shares in the last quarter. Finally, Kiker Wealth Management LLC bought a new stake in ABM Industries in the 2nd quarter worth approximately $61,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

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.