ABB Ltd (ABB) Given Average Rating of “Hold” by Analysts
Shares of ABB Ltd (NYSE:ABB) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.50.
ABB has been the subject of a number of recent analyst reports. BidaskClub lowered ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Morgan Stanley reissued a “buy” rating on shares of ABB in a report on Thursday, June 22nd. Robert W. Baird reissued a “buy” rating and issued a $29.00 price objective on shares of ABB in a report on Wednesday, October 4th. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, UBS AG reissued a “sell” rating on shares of ABB in a report on Monday, July 24th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in ABB by 5.5% in the second quarter. Bank of Montreal Can now owns 47,187 shares of the industrial products company’s stock worth $1,174,000 after purchasing an additional 2,447 shares during the period. Pinnacle Associates Ltd. lifted its position in ABB by 12.8% in the second quarter. Pinnacle Associates Ltd. now owns 73,888 shares of the industrial products company’s stock worth $1,840,000 after purchasing an additional 8,406 shares during the period. Aperio Group LLC lifted its position in ABB by 4.8% in the second quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock worth $20,789,000 after purchasing an additional 38,467 shares during the period. Airain ltd lifted its position in ABB by 33.2% in the second quarter. Airain ltd now owns 51,797 shares of the industrial products company’s stock worth $1,290,000 after purchasing an additional 12,904 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in ABB in the second quarter worth approximately $434,000. Hedge funds and other institutional investors own 4.42% of the company’s stock.
Shares of ABB (ABB) opened at 25.17 on Thursday. The stock has a 50 day moving average price of $24.25 and a 200 day moving average price of $24.24. ABB has a 12-month low of $20.26 and a 12-month high of $25.83. The firm has a market capitalization of $53.71 billion, a PE ratio of 24.25 and a beta of 1.06.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS 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 company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period last year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that ABB will post $1.22 EPS for the current fiscal year.
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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