ABM Industries (NYSE:ABM) Announces Earnings Results

ABM Industries (NYSE:ABM) issued its earnings results on Tuesday. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03, FiscalAI reports. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ABM Industries had a net margin of 1.75% and a return on equity of 11.84%.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $46.98 on Tuesday. ABM Industries has a fifty-two week low of $36.96 and a fifty-two week high of $50.12. The business has a 50-day simple moving average of $46.99 and a two-hundred day simple moving average of $43.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68.

Insider Activity

In other news, CEO Scott Salmirs sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.34, for a total transaction of $2,317,000.00. Following the sale, the chief executive officer owned 395,285 shares of the company’s stock, valued at $18,317,506.90. This trade represents a 11.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in ABM Industries by 590.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after purchasing an additional 520 shares during the last quarter. Quarry LP raised its stake in 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 buying an additional 767 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in ABM Industries during the 4th quarter valued at $57,000. Headlands Technologies LLC bought a new position in shares of ABM Industries during the 2nd quarter valued at $94,000. Finally, Quadrant Capital Group LLC bought a new position in shares of ABM Industries during the 3rd quarter valued at $177,000. Institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABM. Robert W. Baird raised their price target on shares of ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Weiss Ratings upgraded ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

ABM Industries Company Profile

ABM Industries Incorporated is a leading provider of integrated facility services, offering a comprehensive suite of solutions designed to support the operation, maintenance and enhancement of commercial properties. The company’s core services include janitorial and custodial maintenance, HVAC and mechanical systems support, electrical and lighting solutions, and energy optimization. Additional offerings span parking management, security services, landscaping, and specialized support such as technical solutions and sustainability consulting.

Serving a diverse range of markets, ABM caters to clients in commercial real estate, aviation, healthcare, manufacturing, education, government entities, and technology campuses.