BNP Paribas Downgrades ABB Ltd (ABB) to Neutral
ABB Ltd (NYSE:ABB) was downgraded by research analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also recently issued reports on ABB. Natixis upgraded ABB from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 8th. Zacks Investment Research cut ABB from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research note on Monday, January 23rd. Jefferies Group LLC reiterated a “sell” rating and issued a $18.00 price target on shares of ABB in a research note on Tuesday, April 4th. Finally, Morgan Stanley reiterated a “buy” rating on shares of ABB in a research note on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.50.
Shares of ABB (NYSE:ABB) traded down 0.52% during mid-day trading on Tuesday, hitting $24.91. The company’s stock had a trading volume of 818,966 shares. The company has a 50-day moving average of $23.98 and a 200 day moving average of $22.59. ABB has a 1-year low of $18.72 and a 1-year high of $25.19. The company has a market cap of $53.40 billion, a price-to-earnings ratio of 25.24 and a beta of 1.23.
ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.77 billion. ABB had a return on equity of 18.00% and a net margin of 5.80%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. On average, analysts expect that ABB will post $1.21 EPS for the current year.
The firm also recently announced an annual dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Thursday, April 20th will be paid a dividend of $0.7546 per share. This represents a yield of 3.28%. The ex-dividend date is Tuesday, April 18th. ABB’s payout ratio is presently 79.35%.
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Large investors have recently added to or reduced their stakes in the company. Marietta Investment Partners LLC acquired a new stake in ABB during the third quarter valued at $1,775,000. Greenleaf Trust acquired a new stake in ABB during the first quarter valued at $326,000. UBS Group AG boosted its stake in ABB by 6.0% in the third quarter. UBS Group AG now owns 920,896 shares of the industrial products company’s stock valued at $20,729,000 after buying an additional 52,240 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in ABB during the fourth quarter valued at $2,888,000. Finally, Abbrea Capital LLC acquired a new stake in ABB during the fourth quarter valued at $215,000. Hedge funds and other institutional investors own 3.08% of the company’s stock.
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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