ABM Industries (NYSE:ABM) Releases FY 2024 Earnings Guidance

ABM Industries (NYSE:ABM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.480-3.550 for the period, compared to the consensus estimate of 3.470. The company issued revenue guidance of -. ABM Industries also updated its FY24 guidance to $3.48-3.55 EPS.

ABM Industries Stock Down 5.8 %

NYSE ABM traded down $3.25 on Friday, reaching $52.85. 378,804 shares of the stock traded hands, compared to its average volume of 551,425. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average price of $53.51 and a 200-day moving average price of $48.10. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 13.85 and a beta of 1.16. ABM Industries has a 12 month low of $37.61 and a 12 month high of $59.78.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. ABM Industries’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, research analysts forecast that ABM Industries will post 3.46 EPS for the current fiscal year.

Analysts Set New Price Targets

ABM has been the subject of a number of research analyst reports. UBS Group lifted their target price on ABM Industries from $45.00 to $51.00 and gave the company a neutral rating in a research report on Friday, June 7th. Robert W. Baird boosted their price target on ABM Industries from $48.00 to $49.00 and gave the stock a neutral rating in a research report on Monday, June 10th. Finally, StockNews.com lowered ABM Industries from a buy rating to a hold rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, ABM Industries presently has an average rating of Hold and an average target price of $48.80.

Insider Transactions at ABM Industries

In related news, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the sale, the chief executive officer now owns 366,655 shares in the company, valued at approximately $20,195,357.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. In the last three months, insiders sold 78,778 shares of company stock valued at $4,039,248. Corporate insiders own 1.04% 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.