ABM Industries Incorporated (ABM) Raises Dividend to $0.18 Per Share

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Wednesday, December 13th, RTT News reports. Stockholders of record on Thursday, January 4th will be given a dividend of 0.175 per share by the business services provider on Monday, February 5th. This represents a $0.70 annualized dividend and a dividend yield of 1.60%. This is an increase from ABM Industries’s previous quarterly dividend of $0.17.

ABM Industries has raised its dividend payment by an average of 13.6% per year over the last three years and has increased its dividend every year for the last 49 years. ABM Industries has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ABM Industries to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 35.4%.

ABM Industries (NYSE:ABM) traded down $0.08 during trading on Thursday, hitting $43.75. The stock had a trading volume of 595,800 shares, compared to its average volume of 318,191. The firm has a market cap of $2,854.91, a price-to-earnings ratio of 23.19 and a beta of 0.80. ABM Industries has a 52 week low of $37.12 and a 52 week high of $45.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.52 and a quick ratio of 1.52.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, December 13th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.12). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. ABM Industries’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. equities research analysts expect that ABM Industries will post 1.85 EPS for the current fiscal year.

In related news, SVP Dean A. Chin sold 880 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total value of $37,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on ABM shares. Zacks Investment Research upgraded ABM Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub upgraded ABM Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, September 11th. Finally, Robert W. Baird set a $47.00 price objective on ABM Industries and gave the company a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $48.20.

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ABM Industries Company Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Dividend History for ABM Industries (NYSE:ABM)

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