Top Wall Street Forecasters Revamp ABM Expectations Ahead Of Earnings
Portfolio Pulse from Avi Kapoor
ABM Industries Incorporated (NYSE:ABM) is set to release its second-quarter earnings before the opening bell on Thursday. Analysts expect earnings of 79 cents per share, down from 90 cents per share a year ago, with projected quarterly revenue of $2 billion. Despite better-than-expected first-quarter results and raised FY24 earnings guidance, recent analyst ratings have been mixed, with several downgrades and price target adjustments.
June 06, 2024 | 6:40 am
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ABM Industries is expected to report Q2 earnings of 79 cents per share, down from 90 cents per share a year ago, with projected revenue of $2 billion. Despite strong Q1 results and raised FY24 guidance, recent analyst ratings have been mixed, with several downgrades and price target adjustments.
The mixed analyst ratings and price target adjustments indicate uncertainty about ABM's short-term performance. While the company had strong Q1 results and raised FY24 guidance, the expected drop in Q2 earnings and the recent downgrades suggest a neutral short-term impact on the stock price.
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