ABB Stock Rating Lowered by Handelsbanken (ABB)
ABB (NYSE:ABB) was downgraded by equities researchers at Handelsbanken from a “buy” rating to an “accumulate” rating in a research report issued on Friday, AR Network reports.
Shares of ABB (NYSE:ABB) traded up 0.76% during mid-day trading on Friday, hitting $25.34. 634,878 shares of the company’s stock traded hands. ABB has a 52 week low of $20.65 and a 52 week high of $27.25. The stock has a 50-day moving average of $25.73 and a 200-day moving average of $24.32. The company has a market cap of $58.201 billion and a P/E ratio of 20.14.
ABB (NYSE:ABB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.31 by $0.08. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter last year, the company posted $0.26 earnings per share. ABB’s revenue was up 3.2% compared to the same quarter last year. Analysts expect that ABB will post $1.61 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ABB. 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.45.
ABB Ltd (NYSE:ABB) provides power and automation technologies for its utility and industrial customers.
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