ABB Ltd. (ABB) Given Sell Rating at Citigroup Inc.
ABB Ltd. (NYSE:ABB)‘s stock had its “sell” rating reiterated by research analysts at Citigroup Inc. in a note issued to investors on Thursday.
Several other brokerages have also issued reports on ABB. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Robert W. Baird boosted their target price on shares of ABB from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, October 5th. Bank of America Corp. set a $23.00 target price on shares of ABB and gave the company a “hold” rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. restated a “sell” rating on shares of ABB in a research report on Thursday, September 22nd. Finally, HSBC lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.39 on Thursday. The stock has a market cap of $47.62 billion, a PE ratio of 29.04 and a beta of 1.20. ABB has a 52-week low of $15.74 and a 52-week high of $22.92. The stock’s 50 day moving average is $22.34 and its 200 day moving average is $20.98.
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ABB (NYSE:ABB) last announced its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.09. The company earned $8.68 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. Equities research analysts forecast that ABB will post $1.08 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in ABB. Grandfield & Dodd LLC increased its position in ABB by 3.1% in the second quarter. Grandfield & Dodd LLC now owns 606,866 shares of the company’s stock valued at $12,034,000 after buying an additional 18,523 shares during the period. Wellington Management Group LLP increased its stake in ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock worth $220,657,000 after buying an additional 390,035 shares during the last quarter. Trillium Asset Management LLC increased its stake in ABB by 0.3% in the second quarter. Trillium Asset Management LLC now owns 722,362 shares of the company’s stock worth $14,324,000 after buying an additional 2,234 shares during the last quarter. Conning Inc. acquired a new stake in ABB during the second quarter worth about $3,514,000. Finally, JPMorgan Chase & Co. increased its stake in ABB by 9.8% in the second quarter. JPMorgan Chase & Co. now owns 2,513,049 shares of the company’s stock worth $49,833,000 after buying an additional 224,114 shares during the last quarter. 3.27% of the stock is currently owned by hedge funds and other 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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