ABB Ltd Receives Average Rating of “Hold” from Analysts (NYSE:ABB)
Shares of ABB Ltd (NYSE:ABB) have received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, AR Network reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.98.
Shares of ABB Ltd (NYSE:ABB) traded up 2.09% on Wednesday, hitting $23.45. 592,435 shares of the company’s stock traded hands. ABB Ltd has a 52 week low of $21.80 and a 52 week high of $27.25. The stock’s 50-day moving average is $22.92 and its 200-day moving average is $24.01. The company has a market cap of $53.722 billion and a P/E ratio of 20.79.
ABB Ltd (NYSE:ABB) last announced its earnings results on Wednesday, July 23rd. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.02. The company had revenue of $10.19 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that ABB Ltd will post $1.27 earnings per share for the current fiscal year.
Separately, analysts at Bank of America upgraded shares of ABB Ltd from a “neutral” rating to a “buy” rating in a research note on Wednesday.
ABB Ltd (NYSE:ABB) is a Switzerland-based company engaged in the electrical engineering industry.
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