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ABB (NYSE:ABB) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, reports. They currently have a $24.10 price objective on the stock. Zacks‘ price target points to a potential downside of 5.16% from the company’s current price.

Shares of ABB (NYSE:ABB) traded up 1.03% during mid-day trading on Monday, hitting $25.41. 1,187,529 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’s 50-day moving average is $25.70 and its 200-day moving average is $24.35. The company has a market cap of $58.459 billion and a price-to-earnings ratio of 20.73.

ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters 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 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. Analysts expect that ABB will post $1.57 EPS for the current fiscal year.

The company also recently declared a annual dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.783 per share. This represents a yield of 3.08%. The ex-dividend date of this dividend is Monday, May 5th.

Other equities research analysts have also recently issued reports about the stock. Analysts at Handelsbanken downgraded shares of ABB from a “buy” rating to an “accumulate” rating in a research note on Friday. Separately, analysts at Natixis upgraded shares of ABB from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, analysts at Morgan Stanley upgraded shares of ABB to an “overweight” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. ABB currently has an average rating of “Hold” and an average target price of $24.33.

ABB Ltd (NYSE:ABB) provides power and automation technologies for its utility and industrial customers.

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