ABB Ltd. (ABB) Sets New 12-Month High at $21.64
ABB Ltd. (NYSE:ABB)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $21.64 and last traded at $21.58, with a volume of 577,601 shares. The stock had previously closed at $21.39.
Several research firms have weighed in on ABB. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research report on Monday, June 13th. TheStreet upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Finally, Citigroup Inc. reiterated a “sell” rating on shares of ABB in a research report on Thursday, April 21st. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.25.
The firm has a market capitalization of $45.82 billion and a PE ratio of 27.9422. The stock has a 50 day moving average price of $20.35 and a 200 day moving average price of $19.56.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.09. The firm earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts anticipate that ABB Ltd. will post $1.08 EPS for the current fiscal year.
A hedge fund recently raised its stake in ABB stock. Morgan Stanley boosted its stake in ABB Ltd. (NYSE:ABB) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,168 shares of the company’s stock after buying an additional 94,045 shares during the period. Morgan Stanley owned 0.05% of ABB worth $19,984,000 as of its most recent SEC filing.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business -based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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