Today: The Citigroup Inc. Reaffirms “Sell” Rating for ABB Ltd. (ABB)

The Citigroup Inc. Reaffirms “Sell” Rating for ABB Ltd. (ABB)

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.

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