Top Wall Street Forecasters Revamp ABM Expectations Ahead Of Earnings

ABM Industries Incorporated ABM will release earnings results for its second quarter, before the opening bell on Thursday.

Analysts expect the New York-based company to report quarterly earnings at 79 cents per share. That's down from 90 cents per share in the year-ago period. ABM Industries is projected to post quarterly revenue of $2 billion, according to data from Benzinga Pro.

On March 7, ABM Industries reported better-than-expected first-quarter results and raised its FY24 earnings guidance.

ABM Industries shares rose 0.4% to close at $47.76 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Truist Securities analyst Jasper Bibb maintained a Hold rating and cut the price target from $53 to $45 on March 8. This analyst has an accuracy rate of 63%.
• Baird analyst Andrew Wittmann maintained a Neutral rating and lowered the price target from $49 to $48 on March 8. This analyst has an accuracy rate of 78%.
• UBS analyst Joshua Chan maintained a Neutral rating and increased the price target from $42 to $45 on March 7. This analyst has an accuracy rate of 64%.
• Keybanc analyst Sean Eastman maintained an Overweight rating and cut the price target from $51 to $48 on Sept. 11, 2023. This analyst has an accuracy rate of 86%.
• Deutsche Bank analyst Faiza Alwy downgraded the stock from Buy to Hold and cut the price target from $65 to $43 on Sept. 8, 2023. This analyst has an accuracy rate of 60%.

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