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ABM Industries (ABM) Rises 10.9% in Three Months: Here's How
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ABM Industries Incorporated (ABM - Free Report) has gained 10.9% in the past three months compared with its industry’s 14.7% growth in the same time frame and the 2.8% increase in the S&P 500 composite.
What’s Driving the Surge?
ABM initiated the "2020 Vision" transformation in 2015, aiming for long-term profitable growth through an industry-focused go-to-market strategy. This involved centralizing functions, strengthening sales capabilities and investing in service delivery tools. These efforts improved ABM's offerings in Janitorial, Parking, Facilities Services, Building & Energy Solutions, and Airline Services, thus solidifying its position as a top integrated facilities management company
ABM's growth strategy includes acquisitions and organic investment. The ELEVATE plan focuses on enhancing transparency, talent management, data usage and modernizing the digital ecosystem. ELEVATE, exemplified by the RavenVolt acquisition, aims to expand ABM's presence and services in EV infrastructure and power solutions.
ABM's commitment to shareholder value is evident in dividend payments and share repurchases. Fiscal 2022, 2021 and 2020 saw dividend payments of $51.9 million, $51 million and $49.3 million, respectively. Share repurchases in fiscal 2022 and 2020 amounted to $9.8 million and $5.1 million, respectively. These actions reflect ABM's confidence in its business and dedication to shareholder value, positively impacting earnings per share.
ABM currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Here are a few better-ranked stocks from the Business Services sector:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%. The company beat the consensus estimate in all the trailing four quarters, with an average surprise of 34.4%.
FTI Consulting (FCN - Free Report) : The Zacks Consensus Estimate for FCN’s 2023 revenues indicates 12.1% growth from the year-ago figure while earnings are expected to grow 3.4%. The company beat the consensus estimate in three of the four quarters and missed on one instance, the average surprise being 8.5%.
FCN carries a Zacks Rank #2 (Buy) at present.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago figure while earnings are expected to grow 10.1%. The company beat the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR currently has a Zacks Rank of 2.
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ABM Industries (ABM) Rises 10.9% in Three Months: Here's How
ABM Industries Incorporated (ABM - Free Report) has gained 10.9% in the past three months compared with its industry’s 14.7% growth in the same time frame and the 2.8% increase in the S&P 500 composite.
What’s Driving the Surge?
ABM initiated the "2020 Vision" transformation in 2015, aiming for long-term profitable growth through an industry-focused go-to-market strategy. This involved centralizing functions, strengthening sales capabilities and investing in service delivery tools. These efforts improved ABM's offerings in Janitorial, Parking, Facilities Services, Building & Energy Solutions, and Airline Services, thus solidifying its position as a top integrated facilities management company
ABM's growth strategy includes acquisitions and organic investment. The ELEVATE plan focuses on enhancing transparency, talent management, data usage and modernizing the digital ecosystem. ELEVATE, exemplified by the RavenVolt acquisition, aims to expand ABM's presence and services in EV infrastructure and power solutions.
ABM Industries Incorporated Price
ABM Industries Incorporated price | ABM Industries Incorporated Quote
ABM's commitment to shareholder value is evident in dividend payments and share repurchases. Fiscal 2022, 2021 and 2020 saw dividend payments of $51.9 million, $51 million and $49.3 million, respectively. Share repurchases in fiscal 2022 and 2020 amounted to $9.8 million and $5.1 million, respectively. These actions reflect ABM's confidence in its business and dedication to shareholder value, positively impacting earnings per share.
ABM currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Here are a few better-ranked stocks from the Business Services sector:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%. The company beat the consensus estimate in all the trailing four quarters, with an average surprise of 34.4%.
IT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FTI Consulting (FCN - Free Report) : The Zacks Consensus Estimate for FCN’s 2023 revenues indicates 12.1% growth from the year-ago figure while earnings are expected to grow 3.4%. The company beat the consensus estimate in three of the four quarters and missed on one instance, the average surprise being 8.5%.
FCN carries a Zacks Rank #2 (Buy) at present.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago figure while earnings are expected to grow 10.1%. The company beat the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR currently has a Zacks Rank of 2.