William Blair Weighs in on ABB Ltd.’s Q3 2016 Earnings (ABB)
ABB Ltd. (NYSE:ABB) – Stock analysts at William Blair increased their Q3 2016 earnings estimates for shares of ABB in a research note issued on Tuesday. William Blair analyst N. Heymann now expects that the firm will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.31. William Blair also issued estimates for ABB’s Q4 2016 earnings at $0.35 EPS.
A number of other equities analysts have also recently commented on the stock. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of ABB in a report on Thursday, September 22nd. HSBC cut shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BNP Paribas raised shares of ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. Finally, Robert W. Baird lifted their target price on shares of ABB from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.75.
ABB (NYSE:ABB) traded up 0.57% during trading on Thursday, reaching $22.89. 917,594 shares of the company’s stock were exchanged. ABB has a 52 week low of $15.74 and a 52 week high of $22.90. The stock has a 50-day moving average price of $22.26 and a 200 day moving average price of $20.87. The firm has a market capitalization of $48.69 billion, a price-to-earnings ratio of 29.69 and a beta of 1.20.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. The company earned $8.68 billion during the quarter, compared to analysts’ expectations of $8.83 billion. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share.
Several large investors have recently modified their holdings of ABB. Emerald Acquisition Ltd. bought a new stake in shares of ABB during the second quarter valued at approximately $29,969,000. Quadrature Capital Ltd bought a new stake in shares of ABB during the second quarter valued at approximately $9,213,000. Wellington Management Group LLP raised its stake in shares of ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock valued at $220,657,000 after buying an additional 390,035 shares during the last quarter. UBS Group AG raised its stake in shares of ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock valued at $16,636,000 after buying an additional 275,986 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. raised its stake in shares of ABB by 7.3% in the second quarter. Schafer Cullen Capital Management Inc. now owns 3,697,586 shares of the company’s stock valued at $73,323,000 after buying an additional 251,597 shares during the last quarter. Institutional investors own 3.27% of the company’s stock.
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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