ABB (OTCMKTS:ABBNY) Shares Gap Down After Earnings Miss

ABB Ltd (OTCMKTS:ABBNY)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $103.47, but opened at $97.88. ABB shares last traded at $97.76, with a volume of 15,122 shares traded.

The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). ABB had a return on equity of 31.52% and a net margin of 13.86%.The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.34 billion.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABBNY shares. TD Cowen reaffirmed a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft raised shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Citigroup restated a “neutral” rating on shares of ABB in a research report on Thursday, June 18th. Wall Street Zen lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Kepler Capital Markets cut ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.00.

ABB Trading Up 1.7%

The stock has a market capitalization of $179.20 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $104.97 and its two-hundred day moving average price is $92.69.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.