ABB (NYSE:ABBNY) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

ABB (NYSE:ABBNY) released its quarterly earnings results on Thursday. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04), Yahoo Finance reports. The firm had revenue of $8.15 billion for the quarter. ABB had a return on equity of 27.83% and a net margin of 11.77%.

ABB Price Performance

Shares of ABB stock opened at $57.12 on Friday. ABB has a twelve month low of $32.88 and a twelve month high of $59.52. The stock has a market capitalization of $107.50 billion, a P/E ratio of 30.00, a PEG ratio of 2.96 and a beta of 1.16. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average price is $56.34 and its 200 day moving average price is $54.01.

Analysts Set New Price Targets

Separately, Citigroup downgraded ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

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.