ABB Ltd. (ABB) Forecasted to Post Q3 2016 Earnings of $0.33 Per Share
ABB Ltd. (NYSE:ABB) – Stock analysts at William Blair upped their Q3 2016 earnings estimates for shares of ABB in a research report issued to clients and investors on Tuesday. William Blair analyst N. Heymann now anticipates that the firm will earn $0.33 per share for the quarter, up from their previous estimate of $0.31. William Blair also issued estimates for ABB’s Q4 2016 earnings at $0.35 EPS.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. The company earned $8.68 billion during the quarter, compared to analysts’ expectations of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. ABB’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share.
Several other research analysts also recently commented on ABB. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Zacks Investment Research downgraded ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Citigroup Inc. reiterated a “sell” rating on shares of ABB in a report on Wednesday. Finally, Bank of America Corp. set a $23.00 price target on ABB and gave the company a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.72 on Thursday. ABB has a 52-week low of $15.74 and a 52-week high of $22.92. The stock has a market cap of $48.33 billion, a PE ratio of 29.47 and a beta of 1.20. The company’s 50-day moving average price is $22.30 and its 200-day moving average price is $20.91.
A number of hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group purchased a new stake in shares of ABB during the first quarter worth approximately $208,000. Franklin Resources Inc. boosted its stake in shares of ABB by 4.3% in the first quarter. Franklin Resources Inc. now owns 547,925 shares of the company’s stock worth $10,641,000 after buying an additional 22,423 shares in the last quarter. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of ABB during the first quarter worth approximately $150,000. JPMorgan Chase & Co. boosted its stake in shares of ABB by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 2,288,935 shares of the company’s stock worth $44,451,000 after buying an additional 21,284 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of ABB by 4.9% in the first quarter. M&T Bank Corp now owns 86,138 shares of the company’s stock worth $1,672,000 after buying an additional 4,017 shares in the last quarter. 3.27% of the stock is 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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