ABB Ltd. (ABB) Earns “Sell” Rating from Goldman Sachs Group Inc.
ABB Ltd. (NYSE:ABB)‘s stock had its “sell” rating restated by investment analysts at Goldman Sachs Group Inc. in a report issued on Thursday.
ABB has been the subject of several other research reports. Zacks Investment Research downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research note on Monday, June 13th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. HSBC lowered shares of ABB from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, BNP Paribas upgraded shares of ABB from an “underperform” rating to an “outperform” rating in a research note on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.30.
ABB (NYSE:ABB) opened at 22.51 on Thursday. The firm has a market cap of $47.88 billion, a price-to-earnings ratio of 29.20 and a beta of 1.33. The firm has a 50-day moving average of $22.00 and a 200-day moving average of $20.59. ABB has a one year low of $15.74 and a one year high of $22.78.
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ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. The business earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Analysts anticipate that ABB will post $1.08 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. First Interstate Bank increased its position in shares of ABB by 40.1% in the second quarter. First Interstate Bank now owns 6,065 shares of the company’s stock valued at $120,000 after buying an additional 1,735 shares in the last quarter. Sei Investments Co. increased its position in shares of ABB by 121.5% in the second quarter. Sei Investments Co. now owns 6,597 shares of the company’s stock valued at $131,000 after buying an additional 3,618 shares in the last quarter. BlackRock Institutional Trust Company N.A. purchased a new position in shares of ABB during the first quarter valued at about $150,000. Smith Asset Management Group LP purchased a new position in shares of ABB during the second quarter valued at about $186,000. Finally, Suntrust Banks Inc. increased its position in shares of ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock valued at $203,000 after buying an additional 157 shares in the last quarter. 3.28% of the stock is owned by institutional investors.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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