ABB Ltd. (ABB) Sees Strong Trading Volume
Shares of ABB Ltd. (NYSE:ABB) saw unusually-high trading volume on Thursday . Approximately 1,662,520 shares were traded during trading, an increase of 49% from the previous session’s volume of 1,115,935 shares.The stock last traded at $22.02 and had previously closed at $21.67.
ABB has been the subject of a number of recent analyst reports. HSBC lowered ABB from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Finally, BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $22.25.
The company has a market cap of $46.94 billion and a P/E ratio of 28.63. The firm has a 50 day moving average of $21.30 and a 200-day moving average of $20.15.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.09. During the same period in the previous year, the business earned $0.33 EPS. The firm earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts forecast that ABB Ltd. will post $1.08 earnings per share for the current fiscal year.
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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