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, namely, growth, execution and business-led collaboration are expected to propel growth. The company has made significant progress in all the three areas during the quarter that were conducive to the quarterly results. Going forward, the company’s three major customers in utilities, industry and transport & infrastructure 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.”
Several other analysts have also recently issued reports on ABB. JPMorgan Chase & Co. restated a neutral rating on shares of ABB in a research note on Monday, June 13th. Deutsche Bank AG upgraded ABB from a sell rating to a hold rating in a research note on Friday, July 22nd. BNP Paribas upgraded ABB from an underperform rating to an outperform rating in a research note on Thursday, September 1st. Finally, HSBC cut ABB from a buy rating to a hold rating in a research note on Friday, August 19th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $23.30.
ABB (NYSE:ABB) opened at 22.81 on Tuesday. The firm has a market capitalization of $48.52 billion, a PE ratio of 29.58 and a beta of 1.33. The company’s 50-day moving average price is $22.05 and its 200 day moving average price is $20.60. ABB has a one year low of $15.74 and a one year high of $22.88.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. ABB’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts forecast that ABB will post $1.08 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of ABB. Rehmann Capital Advisory Group raised its position in shares of ABB by 0.8% in the second quarter. Rehmann Capital Advisory Group now owns 10,800 shares of the company’s stock worth $214,000 after buying an additional 87 shares during the period. Suntrust Banks Inc. raised its position in shares of ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock worth $203,000 after buying an additional 157 shares during the period. FCA Corp TX raised its position in shares of ABB by 0.3% in the second quarter. FCA Corp TX now owns 104,224 shares of the company’s stock worth $2,067,000 after buying an additional 300 shares during the period. Progressive Investment Management Corp raised its position in shares of ABB by 0.5% in the second quarter. Progressive Investment Management Corp now owns 83,377 shares of the company’s stock worth $1,653,000 after buying an additional 433 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of ABB by 4.0% in the second quarter. Scotia Capital Inc. now owns 13,504 shares of the company’s stock worth $269,000 after buying an additional 520 shares during the period. 3.28% of the stock is owned by institutional investors and hedge funds.
ABB Company Profile
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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