Analysts Expect ABB Ltd (ABB) Will Post Earnings of $0.30 Per Share
Wall Street brokerages forecast that ABB Ltd (NYSE:ABB) will post earnings per share of $0.30 for the current quarter, Zacks reports. Two analysts have issued estimates for ABB’s earnings, with estimates ranging from $0.27 to $0.33. ABB posted earnings of $0.32 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that ABB will report full year earnings of $1.22 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.26. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.39 per share, with EPS estimates ranging from $1.30 to $1.47. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover ABB.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. ABB had a net margin of 6.87% and a return on equity of 18.62%. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the business posted $0.35 EPS. ABB’s revenue was down 2.6% compared to the same quarter last year.
A number of research analysts have commented on ABB shares. Robert W. Baird set a $28.00 target price on shares of ABB and gave the company a “buy” rating in a research report on Thursday, August 24th. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. UBS AG reaffirmed a “sell” rating on shares of ABB in a research report on Monday, July 24th. Morgan Stanley cut shares of ABB from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 21st. Finally, Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. ABB currently has an average rating of “Hold” and an average target price of $24.25.
Several hedge funds have recently modified their holdings of ABB. Financial Architects Inc raised its stake in 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 last quarter. Ledyard National Bank raised its stake in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after buying an additional 150 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after buying an additional 3,590 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in ABB during the second quarter worth $120,000. Finally, Huntington National Bank raised its stake in 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 last quarter. 4.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of ABB (ABB) traded down 0.17% during trading on Wednesday, reaching $22.88. 508,611 shares of the company traded hands. The stock has a market capitalization of $48.83 billion, a P/E ratio of 22.04 and a beta of 1.06. The firm’s 50 day moving average is $23.71 and its 200-day moving average is $23.89. ABB has a 12-month low of $20.26 and a 12-month high of $25.83.
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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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