ABB Ltd (NYSE:ABB) Expected to Post Earnings of $0.28 Per Share
Wall Street analysts expect ABB Ltd (NYSE:ABB) to post earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for ABB’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.29. ABB posted earnings of $0.32 per share in the same quarter last year, which suggests a negative year over year growth rate of 12.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that ABB will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.14 to $1.21. For the next financial year, analysts expect that the business will report earnings of $1.40 per share, with EPS estimates ranging from $1.30 to $1.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow ABB.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by $0.03. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS.
Several research analysts have recently commented on ABB shares. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research note on Tuesday, April 18th. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research note on Monday, June 12th. BNP Paribas downgraded ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $28.00 price objective (up previously from $27.00) on shares of ABB in a research note on Friday, June 16th. Finally, Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research note on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.25.
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A number of institutional investors have recently added to or reduced their stakes in ABB. Greenleaf Trust boosted its position in shares of ABB by 1.8% in the second quarter. Greenleaf Trust now owns 14,168 shares of the industrial products company’s stock worth $353,000 after buying an additional 244 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of ABB during the second quarter worth approximately $324,000. Huntington National Bank boosted its position in shares of ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock worth $137,000 after buying an additional 1,575 shares during the period. Financial Architects Inc boosted its position in shares of ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after buying an additional 4,015 shares during the period. Finally, BB&T Corp boosted its position in shares of ABB by 3.2% in the second quarter. BB&T Corp now owns 52,996 shares of the industrial products company’s stock worth $1,320,000 after buying an additional 1,640 shares during the period. Institutional investors and hedge funds own 4.05% of the company’s stock.
Shares of ABB (NYSE:ABB) traded down 1.05% during mid-day trading on Monday, hitting $23.55. 2,048,523 shares of the stock traded hands. ABB has a 52 week low of $20.26 and a 52 week high of $25.83. The firm’s 50-day moving average is $25.03 and its 200-day moving average is $23.86. The stock has a market cap of $50.26 billion, a price-to-earnings ratio of 22.69 and a beta of 1.08.
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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