ABB Ltd. (ABB) Sees Large Volume Increase
Shares of ABB Ltd. (NYSE:ABB) saw an uptick in trading volume on Thursday . 1,662,520 shares traded hands during mid-day 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.
Several brokerages have weighed in on ABB. BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a research note on Thursday. HSBC cut ABB from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a research note on Monday, June 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.25.
The firm has a 50 day moving average of $21.41 and a 200 day moving average of $20.16. The stock has a market capitalization of $47.24 billion and a P/E ratio of 28.81.
ABB (NYSE:ABB) last issued its quarterly 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 analysts’ expectations of $8.83 billion. ABB’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities research analysts forecast that ABB Ltd. will post $1.08 earnings per share for the current 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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