Zacks Investment Research upgraded shares of ABB Group (NYSE:ABB) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “ABB has an excellent earnings surprise history over the trailing four quarters, having beaten estimates each time. The company is benefiting from steady revenues, power infrastructure investments and strategic restructuring initiatives. Strong order growth, particularly in Robotics & Motion and Electrification Products segments, bode well for the coming quarters. Major recent acquisitions like B&R and KEYMILE Group have significantly expanded ABB’s footprint and accelerate its operational momentum. However, the company has been facing strong structural headwinds in its largest business — Power Grids — in the past few quarters, and the trend is likely to continue this year. Moreover, ABB has been facing tangible commodity price headwinds, which are expected to hurt its profits, going forward. ABB’s shares have underperformed the industry’s average return in the past six months.”
ABB has been the topic of a number of other reports. JPMorgan Chase reissued a neutral rating on shares of ABB Group in a report on Wednesday, January 10th. Jefferies Group reissued a sell rating and set a $23.00 price objective on shares of ABB Group in a report on Wednesday, March 28th. Robert W. Baird decreased their price objective on ABB Group from $29.00 to $27.00 and set a neutral rating for the company in a report on Friday, February 9th. Goldman Sachs reissued a buy rating on shares of ABB Group in a report on Monday, January 22nd. Finally, UBS raised ABB Group from a sell rating to a neutral rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $27.00.
Shares of ABB opened at $24.27 on Tuesday. The stock has a market cap of $49,808.13, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.35. ABB Group has a 12 month low of $21.92 and a 12 month high of $28.67.
ABB Group (NYSE:ABB) last announced its quarterly earnings data on Thursday, April 19th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). ABB Group had a net margin of 6.45% and a return on equity of 18.11%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.40 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities research analysts forecast that ABB Group will post 1.4 EPS for the current year.
The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.8261 per share. This represents a yield of 3.44%. This is a positive change from ABB Group’s previous annual dividend of $0.75. The ex-dividend date is Wednesday, April 4th. ABB Group’s dividend payout ratio is 41.60%.
Several large investors have recently bought and sold shares of the business. Fisher Asset Management LLC raised its position in shares of ABB Group by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 9,173,754 shares of the industrial products company’s stock worth $246,040,000 after buying an additional 515,119 shares in the last quarter. Schafer Cullen Capital Management Inc. raised its position in shares of ABB Group by 0.3% in the fourth quarter. Schafer Cullen Capital Management Inc. now owns 3,820,546 shares of the industrial products company’s stock worth $102,467,000 after buying an additional 11,948 shares in the last quarter. Boston Partners purchased a new stake in shares of ABB Group in the fourth quarter worth $85,209,000. Baird Financial Group Inc. raised its position in shares of ABB Group by 53.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,776,457 shares of the industrial products company’s stock worth $74,465,000 after buying an additional 968,442 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of ABB Group by 4.4% in the third quarter. Parametric Portfolio Associates LLC now owns 1,856,532 shares of the industrial products company’s stock worth $45,949,000 after buying an additional 78,573 shares in the last quarter. Hedge funds and other institutional investors own 5.45% of the company’s stock.
About ABB Group
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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