ABB has been the topic of a number of other research reports. Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research note on Thursday, September 22nd. HSBC lowered ABB from a buy rating to a hold rating in a research note on Friday, August 19th. Zacks Investment Research lowered ABB from a buy rating to a hold rating in a research note on Wednesday, September 21st. BNP Paribas upgraded ABB from an underperform rating to an outperform rating in a research note on Thursday, September 1st. Finally, Deutsche Bank AG raised ABB from a sell rating to a hold rating in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $23.75.
ABB (NYSE:ABB) traded up 0.461% during midday trading on Wednesday, hitting $22.865. The stock had a trading volume of 504,945 shares. The company’s 50-day moving average price is $22.27 and its 200 day moving average price is $20.87. ABB has a 52 week low of $15.74 and a 52 week high of $22.89. The company has a market capitalization of $48.63 billion, a PE ratio of 29.656 and a beta of 1.20.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, analysts expect that ABB will post $1.08 EPS for the current year.
Several large investors have recently modified their holdings of the stock. First Interstate Bank increased its stake in ABB by 40.1% in the second quarter. First Interstate Bank now owns 6,065 shares of the company’s stock valued at $120,000 after buying an additional 1,735 shares during the period. Sei Investments Co. increased its stake in ABB by 121.5% in the second quarter. Sei Investments Co. now owns 6,597 shares of the company’s stock valued at $131,000 after buying an additional 3,618 shares during the period. BlackRock Institutional Trust Company N.A. purchased a new stake in ABB during the first quarter valued at $150,000. Smith Asset Management Group LP purchased a new stake in ABB during the second quarter valued at $186,000. Finally, Suntrust Banks Inc. increased its stake in ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock valued at $203,000 after buying an additional 157 shares during the period. 3.27% of the stock is currently owned by hedge funds and other institutional investors.
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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