ABB (ABB) Rating Reiterated by Berenberg Bank

Berenberg Bank restated their sell rating on shares of ABB (NYSE:ABB) in a research note published on Tuesday morning.

ABB has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of ABB from a neutral rating to an underweight rating and set a $20.36 target price for the company. in a report on Monday, December 3rd. Morgan Stanley reiterated a hold rating on shares of ABB in a report on Wednesday, December 5th. HSBC upgraded shares of ABB from a hold rating to a buy rating in a report on Monday, December 10th. Kepler Capital Markets reiterated a buy rating on shares of ABB in a report on Wednesday, December 12th. Finally, UBS Group reiterated a hold rating on shares of ABB in a report on Thursday, December 13th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $21.84.

ABB opened at $18.58 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 1.19. ABB has a 1-year low of $18.05 and a 1-year high of $24.72. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.80 and a beta of 1.07.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, February 28th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). ABB had a return on equity of 19.81% and a net margin of 6.36%. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities research analysts anticipate that ABB will post 1.01 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABB. Comerica Bank increased its holdings in ABB by 5.6% during the third quarter. Comerica Bank now owns 132,318 shares of the industrial products company’s stock worth $2,750,000 after buying an additional 6,997 shares during the last quarter. American Century Companies Inc. increased its holdings in ABB by 95.0% during the third quarter. American Century Companies Inc. now owns 75,899 shares of the industrial products company’s stock worth $1,800,000 after buying an additional 36,971 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in ABB by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 100,415 shares of the industrial products company’s stock worth $2,372,000 after buying an additional 6,863 shares during the last quarter. SG Americas Securities LLC increased its holdings in ABB by 397.9% during the third quarter. SG Americas Securities LLC now owns 190,998 shares of the industrial products company’s stock worth $4,513,000 after buying an additional 152,637 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in ABB by 296.4% during the third quarter. JPMorgan Chase & Co. now owns 1,230,680 shares of the industrial products company’s stock worth $29,081,000 after buying an additional 920,247 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

About ABB

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, 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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