ABB Ltd (ABB) Receives Consensus Rating of “Hold” from Analysts
ABB Ltd (NYSE:ABB) has earned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $23.50.
Several brokerages recently issued reports on ABB. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. UBS AG restated a “sell” rating on shares of ABB in a report on Monday, July 24th. Morgan Stanley cut shares of ABB from an “overweight” rating to an “equal weight” rating in a report on Friday, July 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $29.00 target price on shares of ABB in a report on Wednesday, October 4th.
ABB (NYSE ABB) traded up 0.24% during midday trading on Thursday, hitting $25.03. 974,743 shares of the company were exchanged. ABB has a 1-year low of $20.26 and a 1-year high of $25.83. The stock has a market capitalization of $53.41 billion, a price-to-earnings ratio of 24.11 and a beta of 1.06. The stock has a 50 day moving average of $24.39 and a 200-day moving average of $24.27.
ABB (NYSE:ABB) last issued its earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). ABB had a return on equity of 18.62% and a net margin of 6.87%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts expect that ABB will post $1.22 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Architects Inc raised its position in shares of ABB by 2,404.2% during the 2nd quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 4,015 shares during the period. Ledyard National Bank raised its position in shares of ABB by 3.6% during the 2nd quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 150 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of ABB by 296.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 3,590 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of ABB during the 2nd quarter valued at $120,000. Finally, Huntington National Bank raised its position in shares of ABB by 40.3% during the 2nd quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 1,575 shares during the period. Institutional investors and hedge funds own 4.43% of the company’s stock.
ABB Company Profile
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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