Citigroup Lowers ABB (NYSE:ABBNY) to Hold

Citigroup lowered shares of ABB (NYSE:ABBNY) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

ABB Stock Performance

NYSE:ABBNY traded up $0.23 during mid-day trading on Wednesday, hitting $57.56. 110,762 shares of the stock were exchanged, compared to its average volume of 229,787. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.23. The firm’s 50-day simple moving average is $55.48 and its 200 day simple moving average is $53.34. ABB has a fifty-two week low of $32.88 and a fifty-two week high of $59.52. The stock has a market capitalization of $108.33 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 2.97 and a beta of 1.16.

ABB (NYSE:ABBNY) last issued its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). ABB had a return on equity of 27.83% and a net margin of 11.77%. The business had revenue of $8.24 billion during the quarter. As a group, equities analysts anticipate that ABB will post 2.16 EPS for the current fiscal year.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.