ABB’s (ABB) “Sell” Rating Reaffirmed at Citigroup Inc.
Several other research analysts have also recently weighed in on ABB. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of ABB in a research note on Monday, June 13th. Deutsche Bank AG raised ABB from a sell rating to a hold rating in a research note on Friday, July 22nd. Zacks Investment Research cut 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 report on Thursday, September 1st. Finally, Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research report on Thursday, September 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. ABB presently has an average rating of Hold and a consensus price target of $23.75.
Shares of ABB (NYSE:ABB) traded up 0.461% during mid-day trading on Wednesday, hitting $22.865. The stock had a trading volume of 504,945 shares. The company has a 50-day moving average of $22.27 and a 200 day moving average of $20.87. The firm has a market cap of $48.63 billion, a price-to-earnings ratio of 29.656 and a beta of 1.20. ABB has a one year low of $15.74 and a one year high of $22.89.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share 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 business earned $8.68 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that ABB will post $1.08 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of 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 last quarter. Schafer Cullen Capital Management Inc. raised its stake in shares of ABB by 7.3% in the second quarter. Schafer Cullen Capital Management Inc. now owns 3,697,586 shares of the company’s stock valued at $73,323,000 after buying an additional 251,597 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of ABB by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,423,439 shares of the company’s stock valued at $48,057,000 after buying an additional 55,889 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of ABB during the second quarter valued at $29,969,000. 3.27% of the stock is currently owned by 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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