ABB Downgraded by AlphaValue to “Reduce” (ABB)
ABB (NYSE:ABB) was downgraded by stock analysts at AlphaValue to a “reduce” rating in a report issued on Thursday, ARN reports.
ABB (NYSE:ABB) traded down 0.04% on Thursday, hitting $23.79. The stock had a trading volume of 246,685 shares. ABB has a one year low of $17.49 and a one year high of $24.08. The stock’s 50-day moving average is $22.65 and its 200-day moving average is $22.35. The company has a market cap of $54.635 billion and a P/E ratio of 19.60.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.02. The company had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict that ABB will post $1.43 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ABB. Analysts at Barclays Capital downgraded shares of ABB (NYSE:ABB) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, September 5th. Separately, analysts at HSBC downgraded shares of ABB (NYSE:ABB) from a “neutral” rating to an “underweight” rating in a research note to investors on Thursday, August 29th. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of ABB (NYSE:ABB) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 1st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. ABB has an average rating of “Hold”.
ABB Ltd (NYSE:ABB) provides power and automation technologies for its utility and industrial customers.
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