ABB Ltd. (ABB) Given Average Recommendation of “Hold” by Analysts
ABB Ltd. (NYSE:ABB) has received a consensus rating of “Hold” from the sixteen brokerages that are currently covering the company. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.13.
A number of research analysts have recently weighed in on ABB shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a research report on Monday, June 13th. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Deutsche Bank AG raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. HSBC cut ABB from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Finally, BNP Paribas raised ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st.
Shares of ABB (NYSE:ABB) traded down 1.98% during mid-day trading on Tuesday, reaching $22.33. The company’s stock had a trading volume of 1,996,632 shares. The stock has a market capitalization of $47.50 billion, a P/E ratio of 28.96 and a beta of 1.20. ABB has a 12-month low of $15.74 and a 12-month high of $22.92. The company’s 50-day moving average price is $22.32 and its 200-day moving average price is $20.96.
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ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.09. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that ABB will post $1.08 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. First Interstate Bank increased its stake in 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 during the last quarter. Sei Investments Co. increased its position in 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. bought a new position in ABB during the first quarter valued at $150,000. Smith Asset Management Group LP bought a new position in ABB during the second quarter valued at $186,000. Finally, Suntrust Banks Inc. increased its position in 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. 3.27% of the stock is currently owned by institutional investors and hedge funds.
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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