ABB Ltd (ABB) Receives Consensus Rating of “Hold” from Analysts

Shares of ABB Ltd (NYSE:ABB) have been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $24.50.

ABB has been the topic of a number of recent analyst reports. Berenberg Bank upgraded ABB from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird cut ABB from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a report on Wednesday. Bank of America cut ABB from a “buy” rating to a “neutral” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Wednesday, January 10th.

ABB (ABB) opened at $28.01 on Friday. The firm has a market capitalization of $60,300.00, a P/E ratio of 26.68, a PEG ratio of 2.90 and a beta of 1.06. ABB has a twelve month low of $22.04 and a twelve month high of $28.26. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

ABB (NYSE:ABB) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. research analysts predict that ABB will post 1.22 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in ABB by 58.4% in the second quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock valued at $51,278,000 after purchasing an additional 759,112 shares during the period. Arrowstreet Capital Limited Partnership raised its position in ABB by 14.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after purchasing an additional 432,665 shares during the period. Point72 Asset Management L.P. raised its position in ABB by 512.5% in the third quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock valued at $12,583,000 after purchasing an additional 425,400 shares during the period. Fisher Asset Management LLC raised its position in ABB by 4.5% in the third quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock valued at $214,301,000 after purchasing an additional 376,777 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in ABB in the third quarter valued at approximately $5,507,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

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ABB Company Profile

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.

Analyst Recommendations for ABB (NYSE:ABB)

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