ABB Ltd. (ABB) Trading Down 2.5%
ABB Ltd. (NYSE:ABB)’s share price dropped 2.5% during trading on Friday . The stock traded as low as $18.72 and last traded at $18.89, with a volume of 968,811 shares changing hands. The stock had previously closed at $19.37.
ABB has been the subject of several recent research reports. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research report on Thursday, April 21st. TheStreet raised ABB from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Societe Generale raised ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. JPMorgan Chase & Co. raised ABB from an “underweight” rating to a “neutral” rating in a research report on Wednesday, April 20th. Finally, Royal Bank Of Canada lowered ABB from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 6th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. ABB currently has a consensus rating of “Hold” and a consensus price target of $22.25.
The company has a 50 day moving average of $20.47 and a 200-day moving average of $19.03. The firm has a market capitalization of $40.90 billion and a P/E ratio of 22.34.
ABB (NYSE:ABB) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $8.07 billion. ABB’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. Analysts predict that ABB Ltd. will post $1.03 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 20th. Investors of record on Tuesday, July 12th will be paid a dividend of $0.762 per share. This represents a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, July 8th. This is an increase from ABB’s previous annual dividend of $0.18.
Several large investors recently modified their holdings of ABB. Atlantic Trust Group LLC boosted its stake in shares of ABB by 12.7% in the fourth quarter. Atlantic Trust Group LLC now owns 79,795 shares of the company’s stock worth $1,414,000 after buying an additional 9,015 shares during the period. Keystone Financial Planning Inc. boosted its stake in shares of ABB by 462.8% in the fourth quarter. Keystone Financial Planning Inc. now owns 171,233 shares of the company’s stock worth $3,036,000 after buying an additional 140,809 shares during the period. NorthCoast Asset Management LLC bought a new stake in shares of ABB during the fourth quarter worth $3,614,000. PNC Financial Services Group Inc. boosted its stake in shares of ABB by 68.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 485,129 shares of the company’s stock worth $8,602,000 after buying an additional 197,613 shares during the period. Finally, Manitou Investment Management Ltd. boosted its stake in shares of ABB by 2.8% in the fourth quarter. Manitou Investment Management Ltd. now owns 701,570 shares of the company’s stock worth $12,439,000 after buying an additional 19,330 shares during the period.
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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