FY2016 EPS Estimates for ABB Ltd. (ABB) Lifted by Analyst
ABB Ltd. (NYSE:ABB) – Analysts at William Blair upped their FY2016 earnings per share estimates for ABB in a report released on Tuesday. William Blair analyst N. Heymann now expects that the brokerage will earn $1.10 per share for the year, up from their prior forecast of $1.05. William Blair also issued estimates for ABB’s FY2017 earnings at $1.36 EPS.
ABB has been the subject of a number of other research reports. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of ABB in a report on Thursday, September 22nd. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a report on Wednesday. HSBC lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Zacks Investment Research lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Finally, Robert W. Baird upped their price objective on shares of ABB from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.75.
Shares of ABB (NYSE:ABB) traded down 0.87% during midday trading on Friday, reaching $22.68. 1,174,129 shares of the company were exchanged. The firm has a 50-day moving average of $22.29 and a 200 day moving average of $20.88. ABB has a 52 week low of $15.74 and a 52 week high of $22.92. The firm has a market capitalization of $48.24 billion, a P/E ratio of 29.42 and a beta of 1.20.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/fy2016-eps-estimates-for-abb-ltd-abb-lifted-by-analyst.html
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The company earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Interstate Bank raised 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 worth $120,000 after buying an additional 1,735 shares in the last quarter. Sei Investments Co. raised 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 worth $131,000 after buying an additional 3,618 shares in the last quarter. BlackRock Institutional Trust Company N.A. bought a new position in shares of ABB during the first quarter worth approximately $150,000. Smith Asset Management Group LP bought a new position in shares of ABB during the second quarter worth approximately $186,000. Finally, Suntrust Banks Inc. raised 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 worth $203,000 after buying an additional 157 shares in the last quarter. 3.27% of the stock is currently owned by institutional investors and hedge funds.
ABB Company Profile
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.
Receive News & Ratings for ABB Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.