ABB Ltd (OTCMKTS:ABBNY – Get Free Report) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $89.6335, but opened at $85.57. ABB shares last traded at $85.60, with a volume of 18,823 shares traded.
The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.42). ABB had a net margin of 13.86% and a return on equity of 31.25%.
Analysts Set New Price Targets
ABBNY has been the subject of a number of research analyst reports. Dnb Carnegie raised ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. TD Cowen reiterated a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. Zacks Research upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a report on Tuesday, July 21st. Finally, Pareto Securities upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.
Hedge Funds Weigh In On ABB
An institutional investor recently bought a new position in ABB stock. North Star Asset Management Inc. acquired a new position in shares of ABB Ltd (OTCMKTS:ABBNY – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Institutional investors own 1.06% of the company’s stock.
ABB Stock Performance
The firm has a fifty day simple moving average of $97.28 and a 200-day simple moving average of $99.53. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 0.40. The company has a market cap of $156.54 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35.
ABB Company Profile
ABB Ltd. (OTCMKTS:ABBNY) is a Swiss-Swedish technology company that develops products, systems and services for electrification, industrial automation and energy management. Its offerings include electrical distribution equipment, industrial control systems, motors, drives, measurement and analytical instruments, and software designed to improve the efficiency, reliability and sustainability of industrial and commercial operations.
The company also provides robotics and automation solutions for manufacturing, logistics and other industrial applications.
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