ABM Industries Prepares for Earnings Report; Analysts Weigh In
ABM Industries Earnings Expectations and Analyst Insights
ABM Industries Incorporated (NYSE: ABM) is gearing up to release its earnings results for the third quarter. This announcement is anticipated to occur before the opening bell on a Friday.
Analysts are projecting that ABM will report earnings of 86 cents per share, an increase from the previous year’s 79 cents per share. Additionally, the company’s revenue is expected to reach approximately $2.04 billion, reflecting healthy growth.
Recent Acquisition by ABM
In a strategic move to enhance its service offerings, ABM announced on a recent date that it has acquired Quality Uptime Services, Inc. This company is a significant player in the critical power services sector, with the acquisition being completed for an all-cash price of $119 million. This acquisition is expected to strengthen ABM’s portfolio and market position.
Stock Performance Insights
As of the last trading day, ABM shares experienced a slight increase, closing at $56.10, marking a 0.2% gain. Market analysts continue to express interest in the stock as earnings approach.
Analyst Ratings Overview
Looking at recent analyst activity concerning ABM stock, we see a variety of perspectives that illustrate different outlooks on its performance:
- Baird analyst Andrew Wittmann retained a Neutral rating while adjusting the price target from $48 to $49. His accuracy rate stands at 78%.
- UBS analyst Joshua Chan also maintained a Neutral stance, increasing the price target from $45 to $51, with an accuracy rate of 74%.
- Truist Securities analyst Jasper Bibb kept a Hold rating but lowered the price target from $53 to $45, demonstrating an accuracy rate of 68%.
- Keybanc analyst Sean Eastman held an Overweight rating but cut the price target from $51 to $48, boasting an impressive accuracy rate of 86%.
- The Deutsche Bank analyst Faiza Alwy downgraded the stock from Buy to Hold, slashing the price target from $65 to $43, with a lower accuracy rate of 62%.
ABM's Future Outlook
Investors considering purchasing ABM stock should take note of the recent analyst assessments. The divergent opinions reflect the complexities of the market and suggest that while some analysts are optimistic about the company’s growth, others are advocating caution given recent stock price adjustments.
Frequently Asked Questions
What earnings per share is ABM expected to report?
ABM is anticipated to report earnings of 86 cents per share for the upcoming quarter.
How much revenue is ABM projected to earn?
Analysts estimate that ABM will generate approximately $2.04 billion in revenue.
What recent acquisition did ABM make?
ABM acquired Quality Uptime Services, Inc. for an all-cash deal valued at $119 million.
What is the latest stock performance of ABM?
ABM shares closed at $56.10 after gaining 0.2% on the last trading day.
What ratings have analysts given to ABM stock?
Analysts have given ABM various ratings, including Neutral, Overweight, and Hold, with adjusted price targets reflecting different outlooks on the stock's performance.
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