Royal Bank of Canada Reiterates “Hold” Rating for ABB (ABB)

Royal Bank of Canada reiterated their hold rating on shares of ABB (NYSE:ABB) in a report issued on Friday morning, AnalystRatings.com reports. They currently have a $21.00 price target on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut ABB from a buy rating to a hold rating in a report on Friday. ValuEngine raised ABB from a sell rating to a hold rating in a report on Thursday, April 18th. JPMorgan Chase & Co. reissued a sell rating on shares of ABB in a report on Monday, April 8th. Berenberg Bank reissued a sell rating on shares of ABB in a report on Tuesday, March 19th. Finally, DNB Markets cut ABB from a buy rating to a hold rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. ABB currently has an average rating of Hold and an average price target of $20.87.

ABB opened at $19.59 on Friday. The company has a market cap of $41.40 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. ABB has a twelve month low of $18.05 and a twelve month high of $24.72.

ABB (NYSE:ABB) last announced its earnings results on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. ABB had a return on equity of 19.31% and a net margin of 6.59%. The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that ABB will post 1 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC grew its position in ABB by 4.5% in the fourth quarter. Fisher Asset Management LLC now owns 11,193,231 shares of the industrial products company’s stock worth $212,783,000 after buying an additional 478,645 shares during the last quarter. BlackRock Inc. grew its position in ABB by 5.1% in the fourth quarter. BlackRock Inc. now owns 4,336,724 shares of the industrial products company’s stock worth $82,441,000 after buying an additional 211,015 shares during the last quarter. Mondrian Investment Partners LTD grew its position in ABB by 13.5% in the first quarter. Mondrian Investment Partners LTD now owns 2,366,618 shares of the industrial products company’s stock worth $44,658,000 after buying an additional 281,263 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in ABB by 1,878.9% in the first quarter. Miller Howard Investments Inc. NY now owns 2,324,854 shares of the industrial products company’s stock worth $43,870,000 after buying an additional 2,207,371 shares during the last quarter. Finally, Stifel Financial Corp grew its position in ABB by 3.6% in the fourth quarter. Stifel Financial Corp now owns 1,905,128 shares of the industrial products company’s stock worth $36,226,000 after buying an additional 65,734 shares during the last quarter. Hedge funds and other institutional investors own 4.50% of the company’s stock.

About ABB

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Analyst Recommendations for ABB (NYSE:ABB)

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