ABB (NYSE:ABBNY) Stock Rating Lowered by Citigroup

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

ABB Trading Up 0.4 %

ABBNY opened at $57.56 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.47. ABB has a 52 week low of $32.88 and a 52 week high of $59.52. The stock has a market cap of $108.33 billion, a PE ratio of 29.67, a PEG ratio of 2.97 and a beta of 1.16. The business has a 50 day moving average of $55.48 and a 200-day moving average of $53.38.

ABB (NYSE:ABBNY) last issued its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.59 earnings per share (EPS) 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. Equities research analysts predict that ABB will post 2.16 earnings per share 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.