ABM Industries (ABM) Updates FY 2019 Earnings Guidance

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ABM Industries (NYSE:ABM) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.90-2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.25. ABM Industries also updated its FY19 guidance to $1.90-2.05 EPS.

Shares of ABM stock opened at $33.73 on Thursday. ABM Industries has a 1-year low of $25.64 and a 1-year high of $38.37. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2.42 billion, a P/E ratio of 17.84 and a beta of 0.57.

ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, December 18th. The business services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. ABM Industries had a return on equity of 8.70% and a net margin of 1.52%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.37 EPS. On average, equities research analysts forecast that ABM Industries will post 1.97 earnings per share for the current fiscal year.

ABM has been the topic of several research analyst reports. Zacks Investment Research restated a sell rating on shares of ABM Industries in a research note on Monday, November 12th. Sidoti dropped their target price on ABM Industries from $46.00 to $43.00 and set a buy rating on the stock in a research note on Tuesday, December 11th. TheStreet downgraded ABM Industries from a b rating to a c+ rating in a research note on Tuesday, December 11th. Robert W. Baird dropped their target price on ABM Industries from $35.00 to $31.00 and set a neutral rating on the stock in a research note on Wednesday, December 19th. Finally, CL King downgraded ABM Industries from a buy rating to a neutral rating in a research note on Friday, January 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $39.67.

In other ABM Industries news, Director Linda Chavez sold 3,000 shares of ABM Industries stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $34.62, for a total transaction of $103,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Diego Anthony Scaglione sold 2,857 shares of ABM Industries stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $36.31, for a total value of $103,737.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,609 shares of company stock valued at $549,240. 0.94% of the stock is currently owned by insiders.

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ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

See Also: Gross Domestic Product (GDP)

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