ABB Ltd. (ABB) Rating Reiterated by Goldman Sachs Group Inc.
ABB Ltd. (NYSE:ABB)‘s stock had its “sell” rating reaffirmed by research analysts at Goldman Sachs Group Inc. in a research report issued on Thursday.
Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Monday, June 13th. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Deutsche Bank AG raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. Finally, HSBC cut ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. ABB presently has an average rating of “Hold” and a consensus price target of $23.30.
ABB (NYSE:ABB) traded up 1.42% during midday trading on Thursday, reaching $22.83. The company had a trading volume of 385,886 shares. ABB has a 12 month low of $15.74 and a 12 month high of $22.88. The stock has a market cap of $48.56 billion, a P/E ratio of 29.61 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.
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ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, equities analysts expect that ABB will post $1.08 EPS for the current fiscal year.
Several large investors have recently modified their holdings of ABB. Wellington Management Group LLP boosted its stake in shares of ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock valued at $220,657,000 after buying an additional 390,035 shares during the period. Aperio Group LLC boosted its stake in shares of ABB by 31.1% in the first quarter. Aperio Group LLC now owns 746,514 shares of the company’s stock valued at $14,497,000 after buying an additional 177,291 shares during the period. Logan Capital Management Inc. boosted its stake in shares of ABB by 3.2% in the first quarter. Logan Capital Management Inc. now owns 40,296 shares of the company’s stock valued at $782,000 after buying an additional 1,239 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of ABB by 9.8% in the second quarter. JPMorgan Chase & Co. now owns 2,513,049 shares of the company’s stock valued at $49,833,000 after buying an additional 224,114 shares during the period. Finally, Ngam Advisors L.P. boosted its stake in shares of ABB by 22.5% in the first quarter. Ngam Advisors L.P. now owns 633,129 shares of the company’s stock valued at $12,295,000 after buying an additional 116,351 shares during the period. Institutional investors and hedge funds own 3.28% of the company’s stock.
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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