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ABM Industries (ABM) Stock Rises 22.5% in a Year: Here's How
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ABM Industries Incorporated (ABM - Free Report) has had an impressive run in the past year, appreciating 22.5%.
ABM’s multi-year comprehensive strategic plan, ELEVATE, focuses on providing clients with offerings that enhance transparency and efficiencies, developing its talent management system capabilities, expanding data usage and modernizing the digital ecosystem. ELEVATE is expected to significantly accelerate the company’s organic growth, improve its strategic and comprehensive positioning and reinforce profitability.
The 2022 acquisition of RavenVolt was a part of ABM’s ELEVATE strategy and focuses on expanding the company’s footprint in potential geographies and end markets through strategic acquisitions. RavenVolt’s addition is expanding ABM’s Technical Solutions service offerings, strengthening its foothold in EV infrastructure, power and bundled energy solutions markets. RavenVolt also boosts ABM’s eMobility business as a provider of customized power solutions in facilities that require additional power generation capacity to support EV charging.
Another acquisition of Momentum Support has strengthened ABM’s foothold in fast-growing markets in Ireland like technology and life sciences. The buyout provides ABM access to Momentum’s blue-chip customer base and positions it to cross-sell ABM services to existing ABM clients who also have a presence in the Republic of Ireland and Northern Ireland.
Commitment to shareholder returns makes ABM a reliable way for investors to compound wealth over the long term. The company paid $57.5 million, $51.9 million and $51 million as dividends in fiscal 2023, 2022 and 2021, respectively. ABM returned $138.1 million and $97.5 million as share repurchases in fiscal 2023 and 2022, respectively.
The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, delivering an average earnings surprise of 7%.
Zacks Rank & Stocks to Consider
ABM currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 (Buy) at present. BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.
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ABM Industries (ABM) Stock Rises 22.5% in a Year: Here's How
ABM Industries Incorporated (ABM - Free Report) has had an impressive run in the past year, appreciating 22.5%.
ABM’s multi-year comprehensive strategic plan, ELEVATE, focuses on providing clients with offerings that enhance transparency and efficiencies, developing its talent management system capabilities, expanding data usage and modernizing the digital ecosystem. ELEVATE is expected to significantly accelerate the company’s organic growth, improve its strategic and comprehensive positioning and reinforce profitability.
ABM Industries Incorporated Price
ABM Industries Incorporated price | ABM Industries Incorporated Quote
The 2022 acquisition of RavenVolt was a part of ABM’s ELEVATE strategy and focuses on expanding the company’s footprint in potential geographies and end markets through strategic acquisitions. RavenVolt’s addition is expanding ABM’s Technical Solutions service offerings, strengthening its foothold in EV infrastructure, power and bundled energy solutions markets. RavenVolt also boosts ABM’s eMobility business as a provider of customized power solutions in facilities that require additional power generation capacity to support EV charging.
Another acquisition of Momentum Support has strengthened ABM’s foothold in fast-growing markets in Ireland like technology and life sciences. The buyout provides ABM access to Momentum’s blue-chip customer base and positions it to cross-sell ABM services to existing ABM clients who also have a presence in the Republic of Ireland and Northern Ireland.
Commitment to shareholder returns makes ABM a reliable way for investors to compound wealth over the long term. The company paid $57.5 million, $51.9 million and $51 million as dividends in fiscal 2023, 2022 and 2021, respectively. ABM returned $138.1 million and $97.5 million as share repurchases in fiscal 2023 and 2022, respectively.
The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, delivering an average earnings surprise of 7%.
Zacks Rank & Stocks to Consider
ABM currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 (Buy) at present. BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.