ABM Industries (ABM) is Reiterated by Imperial Capital to In-line, Raises Price Target to $ 38

ABM Industries (ABM) was Reiterated by Imperial Capital to “In-line” according to the research note released today. The brokerage firm has raised the Price Target to $ 38 from a previous price target of $33 . Imperial Capital advised their investors in a research report released on Jun 23, 2016.

On the company’s financial health, ABM Industries reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 8, 2016. Analyst had a consensus of $0.27. The company had revenue of $1257.10 million for the quarter, compared to analysts expectations of $1246.98 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

ABM Industries opened for trading at $36.32 and hit $36.7 on the upside on Tuesday, eventually ending the session at $36.54, with a gain of 0.72% or 0.26 points. The heightened volatility saw the trading volume jump to 2,57,738 shares. Company has a market cap of $2,043 M.

Investors should note that on Jun 8, 2016, ABM Industries announced a cash dividend of $0.1650. The company’s management has announced Jul 5, 2016 as the ex-dividend date and fixed the record date on Jul 7, 2016. The payable date has been fixed on Aug 1, 2016.

In a different news, on Jun 16, 2016, Phil Ferguson (director) sold 7,000 shares at $36.62 per share price. According to the SEC, on Jun 14, 2016, Sarah H Mcconnell (EVP/GEN. COUNSEL/CORP. SECTY.) sold 10,400 shares at $37.03 per share price. On Jun 14, 2016, Thomas J Marano (Pres – Air Serv) sold 25,725 shares at $37.01 per share price, according to the Form-4 filing with the securities and exchange commission.

ABM Industries Incorporated (ABM) is a provider of integrated facility solutions. The Company provides end-to-end integrated facilities management services to commercial governmental industrial institutional residential and retail client facilities in cities primarily throughout the United States. ABM’s capabilities include facility services energy solutions commercial cleaning maintenance and repair heating ventilation and air conditioning (HVAC) electrical landscaping parking and security through stand-alone or integrated solutions. The Company’s onsite businesses consist of Janitorial Facility Services Parking and Security segments. Its mobile and on-demand businesses consist of the Building & Energy Solutions segment and certain unconsolidated affiliates that provide facility solutions primarily to the U.S. Government which complement the other operations of the Building & Energy Solutions segment. The Company’s new segment Other is comprised of Air Serv.

ABM Industries

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