Newfound Support Emerges Ahead of ABM Earnings

ABM has increased 17% in 2021

Nov 24, 2021 at 3:48 PM

ABM Industries Incorporated (NYSE: ABM) is a facility solutions and management provider in the United States. ABM's capabilities include janitorial, electrical & lighting, energy, facilities engineering, HVAC, mechanical, landscape, and parking provided through stand-alone or integrated solutions. ABM Industries also provide custom facility solutions in urban, suburban, and rural areas to properties of all sizes ranging from schools and commercial buildings to hospitals, data centers, manufacturing plants and airports. This afternoon, ABM was last seen down 1.1% at $48.32.

On Nov. 18, ABM announced that it will release its fiscal fourth-quarter results on Wednesday, Dec. 15. The report will be immediately followed by a Virtual Investor Day. ABM Industries' CEO Scott Salmirs and other members of the senior leadership team plan to discuss the brand’s strategic plan and financial targets. At this time, analysts on Wall Street anticipate that ABM will report earnings of $0.80 per share in the upcoming earnings report.

ABM Industries stock has increased about 17% in price year-over-year has climbed 33% since bottoming at a 52-week low of $36.31 in January, with recent support emerging at the 120-day moving average. Additionally, shares of ABM have grown 27% year-to-date but has shed 12% from its all-time high of $55.48 reached in early March. ABM Industries also offers a forward dividend of $0.76 with a dividend yield of 1.56%.

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From a fundamental point of view, ABM stock looks all-around average, at best. Moreover, ABM stock offers a solid price-sales ratio of 0.54, but its price-earnings ratio of 22.85 is relatively high given the company’s market cap of $3.3 billion. Overall, ABM’s growth rate, valuation, and dividend yield don’t provide much worth getting excited about, but ABM stock could prove to be a modest long-term winner.

Short interest, meanwhile, has been on the rise. Up 16.4% during the past two reporting periods, this accounts for 2.5% of the stock's available float, or less than two day's worth of pent-up buying power.

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