ABB Ltd. (ABB) Given Sell Rating at Citigroup Inc.
ABB Ltd. (NYSE:ABB)‘s stock had its “sell” rating restated by equities researchers at Citigroup Inc. in a report issued on Thursday.
A number of other research firms also recently weighed in on ABB. BNP Paribas raised shares of ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st. HSBC downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Deutsche Bank AG raised shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. Finally, Bank of America Corp. set a $23.00 price objective on shares of ABB and gave the stock a “hold” rating in a report on Tuesday, October 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.75.
ABB (NYSE:ABB) opened at 22.39 on Thursday. ABB has a 12 month low of $15.74 and a 12 month high of $22.92. The firm’s 50-day moving average is $22.34 and its 200 day moving average is $20.98. The firm has a market capitalization of $47.62 billion, a P/E ratio of 29.04 and a beta of 1.20.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, analysts expect that ABB will post $1.08 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group boosted its stake in ABB by 0.8% in the second quarter. Rehmann Capital Advisory Group now owns 10,800 shares of the company’s stock valued at $214,000 after buying an additional 87 shares during the period. Suntrust Banks Inc. boosted 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. FCA Corp TX boosted its stake in ABB by 0.3% in the second quarter. FCA Corp TX now owns 104,224 shares of the company’s stock valued at $2,067,000 after buying an additional 300 shares during the period. Progressive Investment Management Corp boosted its stake in ABB by 0.5% in the second quarter. Progressive Investment Management Corp now owns 83,377 shares of the company’s stock valued at $1,653,000 after buying an additional 433 shares during the period. Finally, Scotia Capital Inc. boosted its stake in ABB by 4.0% in the second quarter. Scotia Capital Inc. now owns 13,504 shares of the company’s stock valued at $269,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors own 3.27% of the company’s stock.
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.
Receive News & Stock Ratings for ABB Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB Ltd. and related stocks with our FREE daily email newsletter.