Citigroup Inc. Reaffirms Sell Rating for ABB Ltd. (ABB)
Several other analysts also recently weighed in on the company. HSBC downgraded ABB from a buy rating to a hold rating in a research report on Friday, August 19th. Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research report on Thursday, September 22nd. Zacks Investment Research upgraded ABB from a hold rating to a buy rating and set a $25.00 target price for the company in a report on Tuesday, September 20th. BNP Paribas upgraded ABB from an underperform rating to an outperform rating in a report on Thursday, September 1st. Finally, Deutsche Bank AG upgraded ABB from a sell rating to a hold rating in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. ABB currently has an average rating of Hold and an average price target of $23.75.
ABB (NYSE:ABB) opened at 22.72 on Wednesday. ABB has a 12-month low of $15.74 and a 12-month high of $22.92. The firm’s 50-day moving average is $22.30 and its 200-day moving average is $20.91. The stock has a market capitalization of $48.33 billion, a P/E ratio of 29.47 and a beta of 1.20.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. Analysts predict that ABB will post $1.08 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ABB. Rehmann Capital Advisory Group bought a new stake in ABB during the first quarter worth approximately $208,000. Franklin Resources Inc. boosted its stake in ABB by 4.3% in the first quarter. Franklin Resources Inc. now owns 547,925 shares of the company’s stock worth $10,641,000 after buying an additional 22,423 shares in the last quarter. BlackRock Institutional Trust Company N.A. bought a new stake in ABB during the first quarter worth approximately $150,000. JPMorgan Chase & Co. boosted its stake in ABB by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 2,288,935 shares of the company’s stock worth $44,451,000 after buying an additional 21,284 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in ABB by 4.9% in the first quarter. M&T Bank Corp now owns 86,138 shares of the company’s stock worth $1,672,000 after buying an additional 4,017 shares in the last quarter. 3.27% of the stock is currently owned by hedge funds and other institutional investors.
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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