ABM Industries Incorporated (NYSE:ABM) Declares Quarterly Dividend of $0.27

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.265 per share by the business services provider on Monday, February 3rd. This represents a $1.06 annualized dividend and a dividend yield of 1.87%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23.

ABM Industries has increased its dividend by an average of 16.6% annually over the last three years and has raised its dividend every year for the last 58 years. ABM Industries has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Analysts expect ABM Industries to earn $3.65 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 24.7%.

ABM Industries Stock Down 0.7 %

Shares of ABM Industries stock opened at $56.70 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 23.43 and a beta of 1.14. The firm’s 50-day moving average is $54.67 and its two-hundred day moving average is $52.75. ABM Industries has a 1 year low of $39.64 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. As a group, research analysts expect that ABM Industries will post 3.53 earnings per share for the current fiscal year.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Robert W. Baird lifted their target price on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial lifted their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, UBS Group increased their target price on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

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.