Analysts Set Expectations for ABB Ltd’s Q3 2022 Earnings (NYSE:ABB)

ABB Ltd (NYSE:ABBGet Rating) – Research analysts at Jefferies Financial Group issued their Q3 2022 earnings per share estimates for shares of ABB in a research note issued to investors on Wednesday, September 7th. Jefferies Financial Group analyst S. Toennessen forecasts that the industrial products company will post earnings of $0.33 per share for the quarter. The consensus estimate for ABB’s current full-year earnings is $1.33 per share. Jefferies Financial Group also issued estimates for ABB’s FY2024 earnings at $1.59 EPS.

ABB has been the subject of a number of other reports. StockNews.com lowered shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, September 5th. Bank of America downgraded ABB from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 6th. Morgan Stanley raised their price objective on shares of ABB from CHF 27 to CHF 27.20 in a research note on Tuesday, July 5th. Citigroup cut ABB from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Finally, UBS Group dropped their price target on shares of ABB from CHF 37 to CHF 35 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, ABB presently has a consensus rating of “Hold” and an average target price of $33.03.

ABB Stock Up 2.1 %

Shares of NYSE ABB opened at $28.52 on Friday. The firm’s fifty day moving average is $28.47 and its 200 day moving average is $29.98. ABB has a 52 week low of $25.80 and a 52 week high of $39.11. The company has a market cap of $56.03 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 3.39 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On ABB

Several hedge funds have recently modified their holdings of the stock. Capital International Investors boosted its holdings in ABB by 2.0% during the first quarter. Capital International Investors now owns 20,576,757 shares of the industrial products company’s stock worth $667,249,000 after buying an additional 403,624 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of ABB by 4.7% in the first quarter. Fisher Asset Management LLC now owns 19,079,817 shares of the industrial products company’s stock valued at $617,041,000 after purchasing an additional 861,832 shares during the period. Invesco Ltd. boosted its holdings in ABB by 2.9% in the 4th quarter. Invesco Ltd. now owns 3,471,791 shares of the industrial products company’s stock worth $132,518,000 after buying an additional 96,369 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of ABB by 2.2% during the first quarter. Royal Bank of Canada now owns 2,822,472 shares of the industrial products company’s stock valued at $91,278,000 after acquiring an additional 61,975 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in ABB by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,408,049 shares of the industrial products company’s stock valued at $64,366,000 after purchasing an additional 13,040 shares in the last quarter. Institutional investors and hedge funds own 5.41% of the company’s stock.

ABB Company Profile

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ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, 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 and Estimates for ABB (NYSE:ABB)

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