ABB Ltd (NYSE:ABB)’s share price dropped 2.6% during mid-day trading on Friday . The company traded as low as $18.74 and last traded at $18.77. Approximately 77,066 shares traded hands during trading, a decline of 96% from the average daily volume of 2,180,465 shares. The stock had previously closed at $19.28.
ABB has been the topic of several research reports. Zacks Investment Research raised ABB from a “strong sell” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, May 1st. Deutsche Bank reaffirmed a “buy” rating and issued a $24.00 price target on shares of ABB in a report on Tuesday, May 21st. Jefferies Financial Group reissued a “hold” rating on shares of ABB in a research note on Thursday, February 28th. Royal Bank of Canada reissued a “hold” rating on shares of ABB in a research note on Thursday, February 28th. Finally, UBS Group reaffirmed a “hold” rating on shares of ABB in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.39.
The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $40.18 billion, a PE ratio of 14.11, a PEG ratio of 2.85 and a beta of 1.11.
ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. ABB had a net margin of 6.59% and a return on equity of 19.31%. The firm had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that ABB Ltd will post 0.99 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its position in shares of ABB by 76.4% in the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 602 shares in the last quarter. Bremer Trust National Association bought a new position in ABB during the 4th quarter valued at $26,000. Bremer Bank National Association bought a new position in ABB during the 1st quarter valued at $29,000. Sontag Advisory LLC bought a new position in ABB during the 4th quarter valued at $35,000. Finally, Institutional & Family Asset Management LLC bought a new position in shares of ABB in the 1st quarter worth about $35,000. 4.93% of the stock is owned by institutional investors and hedge funds.
ABB Company Profile (NYSE: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.
Further Reading: P/E Growth (PEG)
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