ABM Industries Incorporated (ABM) is gearing up to release its fourth-quarter earnings results before the market opens on Wednesday, December 17, and analysts are expecting solid growth across the board.
The New York-based facilities services company is projected to report earnings of $1.09 per share, which would mark a healthy 21% jump from the 90 cents per share it posted in the same quarter last year. Revenue expectations are similarly optimistic, with the consensus estimate sitting at $2.27 billion compared to $2.18 billion in the year-ago period.
Recent Corporate Moves
In late October, ABM announced it had appointed Barry Hytinen to its Board of Directors, adding fresh perspective to the company's governance structure ahead of this earnings report.
The stock closed at $46.64 on Friday, down 0.9% for the session.
What The Most Accurate Analysts Are Saying
Here's how analysts with the strongest track records have positioned themselves on ABM heading into earnings:
Freedom Capital Markets analyst David Silver kicked things off with fresh coverage on December 10, initiating a Buy rating and setting a $54 price target. Silver brings a 58% accuracy rate to his calls.
UBS analyst Joshua Chan maintained his Buy rating in September and nudged his price target up from $54 to $55. Chan's accuracy rate clocks in at 56%.
Baird analyst Andrew Wittmann took a more cautious stance back in September, downgrading ABM from Outperform to Neutral while trimming his price target from $56 to $54. Notably, Wittmann boasts the highest accuracy rate among this group at 74%.
Truist Securities analyst Jasper Bibb went the opposite direction in July, upgrading the stock from Hold to Buy and raising his target from $55 to $58. Bibb's accuracy rate stands at 61%.
BTIG analyst Robert Drbul initiated coverage in October with a Buy rating and announced a price target of $1,115. This analyst carries a 66% accuracy rate.
The analyst community's mixed signals suggest investors should pay close attention to Wednesday's earnings call for guidance on what's driving the business forward. With expectations running high and a nearly 10% year-over-year revenue bump anticipated, management's commentary on margins and future growth prospects will be particularly telling.
