On March 9, 2023, Baird downgraded their outlook for ABM Industries (NYSE:ABM) from Outperform to Neutral.
Analyst Price Forecast Suggests 24.55% Upside
As of March 10, 2023, the average one-year price target for ABM Industries is $59.16. The forecasts range from a low of $51.51 to a high of $68.25. The average price target represents an increase of 24.55% from its latest reported closing price of $47.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ABM Industries is $8,212MM, an increase of 4.46%. The projected annual non-GAAP EPS is $3.74.
ABM Industries Declares $0.22 Dividend
On March 8, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of April 6, 2023 will receive the payment on May 1, 2023. Previously, the company paid $0.22 per share.
At the current share price of $47.50 / share, the stock's dividend yield is 1.85%. Looking back five years and taking a sample every week, the average dividend yield has been 1.94%, the lowest has been 1.42%, and the highest has been 3.62%. The standard deviation of yields is 0.29 (n=236).
The current dividend yield is 0.30 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,902K shares representing 7.42% ownership of the company. In it's prior filing, the firm reported owning 4,890K shares, representing an increase of 0.25%. The firm increased its portfolio allocation in ABM by 5.96% over the last quarter.
SDY - SPDR Dividend ETF holds 3,483K shares representing 5.27% ownership of the company. In it's prior filing, the firm reported owning 3,255K shares, representing an increase of 6.56%. The firm increased its portfolio allocation in ABM by 6.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,025K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 2,005K shares, representing an increase of 0.99%. The firm increased its portfolio allocation in ABM by 8.37% over the last quarter.
Victory Capital Management holds 1,932K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 1,664K shares, representing an increase of 13.88%. The firm decreased its portfolio allocation in ABM by 20.26% over the last quarter.
Boston Partners holds 1,821K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 1,828K shares, representing a decrease of 0.35%. The firm decreased its portfolio allocation in ABM by 99.96% over the last quarter.
What is the Fund Sentiment?
There are 572 funds or institutions reporting positions in ABM Industries. This is a decrease of 17 owner(s) or 2.89% in the last quarter. Average portfolio weight of all funds dedicated to ABM is 0.24%, a decrease of 0.10%. Total shares owned by institutions decreased in the last three months by 0.67% to 74,235K shares. The put/call ratio of ABM is 0.66, indicating a bullish outlook.
ABM Industries Background Information
(This description is provided by the company.)
ABM Industries Inc. is a facility management provider in the United States. ABM was founded in 1909 by Morris Rosenberg in San Francisco, California, as a single-person window washing business. As of 2013, the company has over 130,000 employees, over 350 offices, and various international locations.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
