ABB (OTCMKTS:ABBNY) Sees Large Volume Increase – Here’s Why

ABB Ltd (OTCMKTS:ABBNY) saw unusually-strong trading volume on Friday . 977,956 shares were traded during mid-day trading, an increase of 167% from the previous session’s volume of 366,761 shares.The stock last traded at $96.01 and had previously closed at $97.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Pareto Securities raised ABB from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. Barclays upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft upgraded ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Citigroup reissued a “neutral” rating on shares of ABB in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.00.

ABB Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $104.33 and a two-hundred day moving average price of $93.50. The firm has a market cap of $175.04 billion, a PE ratio of 34.66, a P/E/G ratio of 1.49 and a beta of 1.36.

ABB (OTCMKTS:ABBNY) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.34 billion. ABB had a return on equity of 31.52% and a net margin of 13.86%. Research analysts forecast that ABB Ltd will post 3.76 EPS for the current fiscal year.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.