According to Zacks, “ABB has a decent earnings history, with three beats and one miss in the four trailing quarters. ABB is one of the best managed industrial infrastructure, power and automation companies in the world that stands to benefit from investments made in the upgrade of power infrastructure. ABB’s proven “Next Level Strategy” and focused investments in three strategic areas are expected to propel growth. Going forward, the company’s operations in utilities, industry, and transport & infrastructure markets are anticipated to drive growth. However, on the flip side, volatility in the oil & gas industry and currency fluctuations are expected to pose as major headwinds, marring the company’s prospects. This apart, escalating geopolitical tension triggered by the Brexit referendum and weakness in key end markets are expected to play spoilsport. Also, poor sales and higher restructuring costs are adding to the problems.”
Several other analysts have also recently issued reports on the stock. HSBC cut shares of ABB from a buy rating to a hold rating in a research note on Friday, August 19th. BNP Paribas upgraded shares of ABB from an underperform rating to an outperform rating in a research note on Thursday, September 1st. Deutsche Bank AG upgraded shares of ABB from a sell rating to a hold rating in a research note on Friday, July 22nd. Finally, JPMorgan Chase & Co. reiterated a neutral rating on shares of ABB in a research note on Monday, June 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $23.30.
Shares of ABB (NYSE:ABB) opened at 22.65 on Wednesday. The company has a 50 day moving average of $22.09 and a 200 day moving average of $20.63. ABB has a 52 week low of $15.74 and a 52 week high of $22.88. The company has a market cap of $48.18 billion, a PE ratio of 29.38 and a beta of 1.33.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect that ABB will post $1.08 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock valued at $220,657,000 after buying an additional 390,035 shares during the period. Aperio Group LLC boosted its stake in ABB by 31.1% in the first quarter. Aperio Group LLC now owns 746,514 shares of the company’s stock valued at $14,497,000 after buying an additional 177,291 shares during the period. Logan Capital Management Inc. boosted its stake in ABB by 3.2% in the first quarter. Logan Capital Management Inc. now owns 40,296 shares of the company’s stock valued at $782,000 after buying an additional 1,239 shares during the period. Conning Inc. bought a new stake in ABB during the second quarter valued at $3,514,000. Finally, JPMorgan Chase & Co. boosted its stake in ABB by 9.8% in the second quarter. JPMorgan Chase & Co. now owns 2,513,049 shares of the company’s stock valued at $49,833,000 after buying an additional 224,114 shares during the period. Hedge funds and other institutional investors own 3.28% of the company’s stock.
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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