William Blair Weighs in on ABB Ltd.’s FY2016 Earnings (ABB)
ABB Ltd. (NYSE:ABB) – Stock analysts at William Blair upped their FY2016 EPS estimates for ABB in a research note issued on Tuesday. William Blair analyst N. Heymann now forecasts that the firm will post earnings of $1.10 per share for the year, up from their prior estimate of $1.05. William Blair also issued estimates for ABB’s FY2017 earnings at $1.36 EPS.
ABB has been the topic of a number of other reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Bank of America Corp. set a $23.00 price objective on shares of ABB and gave the company a “hold” rating in a report on Tuesday, October 4th. Finally, BNP Paribas upgraded shares of ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. 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. The company has a consensus rating of “Hold” and an average price target of $23.75.
ABB (NYSE:ABB) opened at 22.72 on Friday. ABB has a 52-week low of $15.74 and a 52-week high of $22.92. The firm has a market capitalization of $48.33 billion, a P/E ratio of 29.47 and a beta of 1.20. The company’s 50-day moving average is $22.30 and its 200-day moving average is $20.91.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (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 the consensus estimate of $8.83 billion. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of ABB during the second quarter valued at about $29,969,000. Quadrature Capital Ltd acquired a new position in shares of ABB during the second quarter valued at about $9,213,000. Wellington Management Group LLP increased its position 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. UBS Group AG increased its position in shares of ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock valued at $16,636,000 after buying an additional 275,986 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. increased its position 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. 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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