ABB (NYSE:ABBNY) Cut to Hold at Citigroup

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

ABB Stock Performance

Shares of NYSE ABBNY traded up $0.23 during trading on Wednesday, reaching $57.56. 110,762 shares of the stock traded hands, compared to its average volume of 229,787. ABB has a 52-week low of $32.88 and a 52-week high of $59.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.23 and a quick ratio of 0.88. The stock has a market capitalization of $108.33 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.97 and a beta of 1.16. The company has a 50-day moving average of $55.48 and a 200-day moving average of $53.34.

ABB (NYSE:ABBNY) last announced its earnings results on Thursday, July 18th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The business had revenue of $8.24 billion for the quarter. ABB had a net margin of 11.77% and a return on equity of 27.83%. Analysts forecast that ABB will post 2.16 EPS for the current fiscal year.

ABB Company Profile

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.