ABM Industries Incorporated (NYSE:ABM) Declares $0.23 Quarterly Dividend

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Thursday, June 6th, Zacks reports. Shareholders of record on Friday, July 5th will be paid a dividend of 0.225 per share by the business services provider on Monday, August 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, July 5th.

ABM Industries has increased its dividend by an average of 16.6% per year 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 24.4% meaning its dividend is sufficiently covered by earnings. Analysts expect ABM Industries to earn $3.63 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 24.8%.

ABM Industries Trading Up 0.4 %

ABM stock opened at $50.43 on Thursday. The firm has a fifty day moving average price of $47.85 and a 200 day moving average price of $44.55. ABM Industries has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. 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 firm has a market cap of $3.16 billion, a PE ratio of 13.20 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted 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. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period last year, the firm posted $0.90 earnings per share. ABM Industries’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that ABM Industries will post 3.47 earnings per share for the current fiscal year.

Insider Transactions at ABM Industries

In other news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,063,115. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABM shares. Robert W. Baird raised 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. StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, UBS Group raised their price target on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.80.

About ABM Industries

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.