ABB Ltd. (ABB) Shares Gap Up to $21.00
ABB Ltd. (NYSE:ABB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $20.88, but opened at $21.00. ABB shares last traded at $21.26, with a volume of 637,709 shares trading hands.
Several equities analysts have commented on ABB shares. Citigroup Inc. reiterated a “sell” rating on shares of ABB in a research report on Thursday, April 21st. Royal Bank Of Canada lowered shares of ABB from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 6th. TheStreet upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. ABB currently has a consensus rating of “Hold” and an average price target of $22.25.
The company has a 50-day moving average of $20.30 and a 200-day moving average of $19.46. The company has a market cap of $45.16 billion and a P/E ratio of 27.54.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. During the same period in the previous year, the company earned $0.33 EPS. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. ABB’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts forecast that ABB Ltd. will post $1.08 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ABB stock. Atlantic Trust Group LLC raised its position in ABB Ltd. (NYSE:ABB) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,795 shares of the company’s stock after buying an additional 9,015 shares during the period. Atlantic Trust Group LLC’s holdings in ABB were worth $1,414,000 at the end of the most recent reporting 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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