ABB has been the subject of a number of other reports. Zacks Investment Research lowered shares of ABB from a buy rating to a hold rating in a report on Wednesday, September 21st. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of ABB in a report on Thursday, September 22nd. Citigroup Inc. reissued a sell rating on shares of ABB in a report on Thursday, October 13th. Robert W. Baird raised their target price on shares of ABB from $21.00 to $24.00 and gave the company a neutral rating in a report on Wednesday, October 5th. Finally, Morgan Stanley raised shares of ABB from an equal weight rating to an overweight rating in a report on Monday, December 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $24.38.
ABB (NYSE:ABB) traded up 0.81% during midday trading on Tuesday, reaching $22.28. 3,521,570 shares of the company were exchanged. The company has a 50-day moving average of $21.04 and a 200 day moving average of $21.34. The firm has a market capitalization of $47.59 billion, a PE ratio of 28.79 and a beta of 1.25. ABB has a 52 week low of $15.74 and a 52 week high of $22.92.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. ABB had a net margin of 4.92% and a return on equity of 17.98%. The business earned $8.26 billion during the quarter, compared to analyst estimates of $8.38 billion. During the same period last year, the firm posted $0.26 EPS. The company’s revenue was down 3.1% on a year-over-year basis. Equities analysts predict that ABB will post $1.01 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in ABB. Credit Suisse AG raised its stake in ABB by 411.2% in the third quarter. Credit Suisse AG now owns 1,704,564 shares of the company’s stock worth $38,369,000 after buying an additional 1,371,122 shares during the last quarter. Northern Trust Corp raised its stake in ABB by 27.9% in the third quarter. Northern Trust Corp now owns 2,884,725 shares of the company’s stock worth $64,934,000 after buying an additional 629,186 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in ABB during the second quarter worth about $9,213,000. Fisher Asset Management LLC raised its stake in ABB by 92.8% in the third quarter. Fisher Asset Management LLC now owns 704,153 shares of the company’s stock worth $15,851,000 after buying an additional 338,922 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. raised its stake in ABB by 8.8% in the third quarter. Schafer Cullen Capital Management Inc. now owns 4,021,229 shares of the company’s stock worth $90,518,000 after buying an additional 323,643 shares during the last quarter. Institutional investors own 3.07% of the company’s stock.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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