Citigroup Inc. reissued their sell rating on shares of ABB Ltd. (NYSE:ABB) in a report published on Thursday.
ABB has been the subject of a number of other research reports. Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research report on Thursday, September 22nd. HSBC downgraded ABB from a buy rating to a hold rating in a research report on Friday, August 19th. Zacks Investment Research downgraded ABB from a buy rating to a hold rating in a research report on Wednesday, September 21st. Robert W. Baird increased their target price on ABB from $21.00 to $24.00 and gave the company a neutral rating in a report on Wednesday, October 5th. Finally, BNP Paribas upgraded 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, eight have given a hold rating and four have issued a buy rating to the stock. ABB has an average rating of Hold and a consensus price target of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.33 on Thursday. The firm’s 50-day moving average price is $22.37 and its 200-day moving average price is $21.06. ABB has a 52-week low of $15.74 and a 52-week high of $22.92. The stock has a market cap of $47.50 billion, a P/E ratio of 28.96 and a beta of 1.20.
ABB (NYSE:ABB) last announced 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. ABB had a return on equity of 16.86% and a net margin of 4.91%. The company earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that ABB will post $1.08 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. First Interstate Bank increased its position in ABB by 40.1% in the second quarter. First Interstate Bank now owns 6,065 shares of the company’s stock valued at $120,000 after buying an additional 1,735 shares during the last quarter. Sei Investments Co. increased its position in ABB by 121.5% in the second quarter. Sei Investments Co. now owns 6,597 shares of the company’s stock valued at $131,000 after buying an additional 3,618 shares during the last quarter. BlackRock Institutional Trust Company N.A. acquired a new position in ABB during the first quarter valued at approximately $150,000. Smith Asset Management Group LP acquired a new position in ABB during the second quarter valued at approximately $186,000. Finally, Ronald Blue & Co. LLC acquired a new position in ABB during the third quarter valued at approximately $216,000. 3.29% of the stock is currently owned by hedge funds and other institutional investors.
ABB Company Profile