ABM Industries Earnings Expectations and Analyst Insights
ABM Industries Incorporated (NYSE: ABM) is preparing to announce its earnings results for the third quarter, which is expected to take place before the market opens on a Friday.
Analysts forecast that ABM will report earnings of 86 cents per share, up from last year's 79 cents per share. Furthermore, the company’s revenue is anticipated to reach around $2.04 billion, indicating robust growth.
Recent Acquisition by ABM
In a strategic effort to expand its service offerings, ABM recently announced its acquisition of Quality Uptime Services, Inc. This company is a key player in the critical power services sector, and the acquisition was finalized for an all-cash price of $119 million. This move is expected to bolster ABM’s portfolio and enhance its market position.
Stock Performance Insights
On the last trading day, ABM shares saw a modest increase, closing at $56.10, which represents a 0.2% gain. Market analysts continue to show interest in the stock as the earnings report approaches.
Analyst Ratings Overview
Recent analyst activity regarding ABM stock reveals a range of opinions that highlight different outlooks on its performance:
- Baird analyst Andrew Wittmann has maintained a Neutral rating while adjusting the price target from $48 to $49, with an accuracy rate of 78%.
- UBS analyst Joshua Chan also holds a Neutral stance, raising the price target from $45 to $51, achieving an accuracy rate of 74%.
- Truist Securities analyst Jasper Bibb kept a Hold rating but reduced the price target from $53 to $45, demonstrating an accuracy rate of 68%.
- Keybanc analyst Sean Eastman maintained an Overweight rating but lowered the price target from $51 to $48, boasting an impressive accuracy rate of 86%.
- Deutsche Bank analyst Faiza Alwy downgraded the stock from Buy to Hold, significantly cutting the price target from $65 to $43, with a lower accuracy rate of 62%.
ABM's Future Outlook
Investors looking to buy ABM stock should pay attention to the recent analyst evaluations. The varied opinions reflect the complexities of the market, suggesting that while some analysts are optimistic about the company’s growth potential, others advise caution in light of recent adjustments to stock prices.
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.
