ABM Industries Incorporated (ABM) To Go Ex-Dividend on January 2nd

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Investors 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 yield of 1.85%. The ex-dividend date is Thursday, January 2nd. This is an increase 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 increased its dividend annually for the last 58 consecutive years. ABM Industries has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:ABM opened at $57.45 on Friday. The company’s fifty day moving average price is $54.79 and its 200 day moving average price is $52.82. ABM Industries has a 12 month low of $39.64 and a 12 month high of $59.78. 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 firm has a market capitalization of $3.61 billion, a P/E ratio of 23.74 and a beta of 1.14.

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

Insider Activity

In related 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 value of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABM. Truist Financial lifted their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. UBS Group lifted their target price on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Robert W. Baird lifted their target price on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th.

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.