Shares of ABM Industries (NYSE: ABM) fell more than 7% after its FQ4 release, opening an attractive entry for dividend growth investors. This Dividend King fell to a critical support level near the middle of its long-term trading range, where support is likely to be robust.
The Q4 report offers little reason for the market to sell off as hard as it did and every reason to believe the rebound will be strong. The primary culprits are cash flow, earnings, and free cash flow, all contracted versus the top-line advance, but there is a mitigating factor.
