ABB’s (ABB) Sell Rating Reiterated at Citigroup Inc.
ABB Ltd. (NYSE:ABB)‘s stock had its “sell” rating restated by stock analysts at Citigroup Inc. in a report released on Thursday.
ABB has been the topic of a number of other reports. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of ABB in a research report on Thursday, September 22nd. HSBC downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Zacks Investment Research downgraded shares of ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Robert W. Baird raised their target price on shares of ABB from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, October 5th. Finally, BNP Paribas upgraded shares of ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.39 on Thursday. ABB has a 52 week low of $15.74 and a 52 week high of $22.92. The stock has a 50 day moving average of $22.34 and a 200-day moving average of $20.98. The firm has a market capitalization of $47.62 billion, a PE ratio of 29.04 and a beta of 1.20.
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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, beating analysts’ consensus estimates of $0.26 by $0.09. The business had revenue of $8.68 billion for 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%. ABB’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. Equities analysts anticipate that ABB will post $1.08 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. First Interstate Bank boosted its position in 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. boosted 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. purchased a new position in ABB during the first quarter valued at $150,000. Smith Asset Management Group LP purchased a new position in ABB during the second quarter valued at $186,000. Finally, Suntrust Banks Inc. boosted 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 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.
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