On March 9, 2023, Baird lowered its outlook for ABM Industries (NYSE:ABM). excellent To neutral.
Analyst Price Forecast Suggests 24.55% Gain
As of March 10, 2023, ABM Industries’ average price target for the year is $59.16. Predictions range from a low of $51.51 to a high of $68.25. The average price target represents a 24.55% increase from the latest reported closing price of $47.50.
Check out our leaderboard of companies with the biggest price target upside.
ABM Industries’ projected annual revenue is 8,212MM, an increase of 4.46%. Projected annual non-GAAP EPS is $3.74.
ABM Industries Declares Dividend of $0.22
On March 8, 2023, the company announced a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record on April 6, 2023 will receive payment on May 1, 2023. Previously, the company paid him $0.22 per share.
At a current price of $47.50 / share, this stock has a dividend yield of 1.85%. Looking back over five years and taking a weekly sample, the average dividend yield was 1.94%, the lowest for him at 1.42% and the highest at 3.62%. The standard deviation of yield is 0.29 (n=236).
The current dividend yield is 0.30 standard deviations below its historical average.
The company’s dividend payout ratio is 0.30 times. The payout ratio indicates how much of a company’s profits is paid out as dividends. A payout ratio of 1 (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above 1 means the company is steeped in savings to sustain its dividend. This is not a healthy situation. A company with little growth prospects would be expected to pay the majority of its income in dividends. This usually means a payout ratio of 0.5 to 1.0. Companies with good growth prospects are expected to retain some profits to invest in those growth prospects. This translates to a payout ratio of zero to 0.5.
The company’s three-year dividend growth rate is 0.19%, indicating that it has been increasing its dividend for a long time.
What do major shareholders do?
The IJR – iShares Core S&P Small-Cap ETF holds 4,902,000 shares representing a 7.42% ownership interest in the company. In previous filings, the company reported he owned 4,890,000 shares.
Portfolio allocation at ABM increased 5.96% last quarter.
The SDY – SPDR Dividend ETF holds 3,483,000 shares representing a 5.27% ownership interest in the company. In previous filings, the company reported that it owned 3,255,000 of his shares.
Portfolio allocation at ABM was up 6.62% last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,025,000 shares representing a 3.06% ownership interest in the company. In previous filings, the company reported that it owned 2,005,000 of his shares.
Portfolio allocation at ABM was up 8.37% last quarter.
Victory Capital Management owns 1,932,000 shares representing a 2.92% ownership interest in the company. In previous filings, the company reported that it owned 1,664,000 of his shares.
Portfolio allocation at ABM was up 20.26% last quarter.
Boston Partners owns 1,821,000 shares representing a 2.76% ownership interest in the company. In previous filings, the company reported he owned 1,828,000 shares.
Portfolio allocation at ABM increased 99.96% last quarter.
What is Fund Sentiment?
ABM Industries has 572 funds or institutions reporting positions. That’s a decrease of 17 owners or 2.89% over the last quarter.Portfolio average weight of all funds ABM-only 0.24%, down 0.10%. The total number of shares owned by institutional investors fell by 0.67% to 74,235,000 shares in the past three months. ABM’s put/call ratio stands at 0.66, indicating a bullish outlook.
ABM Industries Background Information
(This description is provided by the company.)
ABM Industries Inc. is a US facilities management provider. ABM was founded in 1909 by Morris Rosenberg as a one-man window washer in San Francisco, California. As of 2013, the company has over 130,000 employees, over 350 offices, and various international locations.
This story was originally published in Fintel.
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.