ABB Ltd. (ABB) Sets New 12-Month High at $22.59
ABB Ltd. (NYSE:ABB) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.59 and last traded at $22.56, with a volume of 2,263,273 shares changing hands. The stock had previously closed at $22.21.
ABB has been the topic of a number of research analyst reports. HSBC downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Deutsche Bank AG raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Monday, June 13th. Finally, BNP Paribas raised shares of ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.25.
The stock has a market cap of $48.01 billion and a P/E ratio of 29.27. The stock has a 50-day moving average price of $21.47 and a 200 day moving average price of $20.23.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. During the same quarter in the previous year, the business earned $0.33 EPS. The business earned $8.68 billion during the quarter, compared to analysts’ expectations of $8.83 billion. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts expect 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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