ABB (NYSE:ABB) Announces Quarterly Earnings Results

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ABB (NYSE:ABB) issued its quarterly earnings results on Thursday. The industrial products company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.08, Briefing.com reports. ABB had a return on equity of 19.31% and a net margin of 6.59%. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the business earned $0.38 EPS. ABB’s revenue was up 6.5% on a year-over-year basis.

Shares of NYSE ABB traded up $0.15 during trading hours on Friday, reaching $18.68. The stock had a trading volume of 3,963,184 shares, compared to its average volume of 2,457,558. The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.23. ABB has a fifty-two week low of $18.05 and a fifty-two week high of $24.45. The business’s 50-day simple moving average is $19.32.

ABB has been the subject of several analyst reports. UBS Group reaffirmed a “hold” rating and set a $20.50 price objective on shares of ABB in a research report on Thursday. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $18.00 price objective on shares of ABB in a research report on Monday, July 15th. ValuEngine raised XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Vertical Research raised ABB from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of ABB in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.58.

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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Earnings History for ABB (NYSE:ABB)

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