ABB (ABB) Releases Quarterly Earnings Results
ABB (NYSE:ABB) posted its quarterly earnings results on Thursday. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.08, Analyst Ratings.Net reports. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Natixis upgraded shares of ABB from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Analysts at Morgan Stanley upgraded shares of ABB to an “overweight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. ABB currently has a consensus rating of “Hold” and a consensus price target of $24.45.
Shares of ABB (NYSE:ABB) traded down 1.99% on Thursday, hitting $25.1587. The stock had a trading volume of 2,357,771 shares. ABB has a one year low of $20.65 and a one year high of $27.25. The stock’s 50-day moving average is $25.7 and its 200-day moving average is $24.32. The company has a market cap of $57.784 billion and a price-to-earnings ratio of 20.55.
ABB Ltd (NYSE:ABB) provides power and automation technologies for its utility and industrial customers.
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