Wall Street brokerages forecast that ABB Ltd (NYSE:ABB) will post $9.46 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for ABB’s earnings, with estimates ranging from $9.23 billion to $9.69 billion. ABB posted sales of $8.72 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The company is scheduled to announce its next earnings report before the market opens on Thursday, October 25th.
On average, analysts expect that ABB will report full-year sales of $37.01 billion for the current financial year, with estimates ranging from $36.55 billion to $37.47 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $39.40 billion, with estimates ranging from $38.17 billion to $40.63 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ABB.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 19th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. ABB had a net margin of 6.24% and a return on equity of 19.94%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis.
A number of brokerages have weighed in on ABB. Zacks Investment Research raised shares of ABB from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, September 19th. Societe Generale upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Citigroup upgraded shares of ABB from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, DNB Markets began coverage on shares of ABB in a research report on Monday, September 3rd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. ABB currently has a consensus rating of “Hold” and an average target price of $25.67.
Shares of NYSE ABB traded up $0.12 during trading on Wednesday, reaching $21.26. The company had a trading volume of 1,587,514 shares, compared to its average volume of 2,140,490. ABB has a 52 week low of $21.01 and a 52 week high of $28.67. The company has a market cap of $50.54 billion, a PE ratio of 17.01, a P/E/G ratio of 2.50 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.
Large investors have recently modified their holdings of the company. Boston Partners grew its holdings in ABB by 5.3% during the second quarter. Boston Partners now owns 7,380,465 shares of the industrial products company’s stock valued at $160,673,000 after purchasing an additional 370,034 shares during the period. Stevens Capital Management LP acquired a new position in shares of ABB in the second quarter valued at approximately $482,000. Sonora Investment Management LLC boosted its holdings in shares of ABB by 1.1% in the second quarter. Sonora Investment Management LLC now owns 303,315 shares of the industrial products company’s stock valued at $6,603,000 after buying an additional 3,360 shares during the period. Royal Bank of Canada boosted its holdings in shares of ABB by 3.1% in the first quarter. Royal Bank of Canada now owns 2,463,865 shares of the industrial products company’s stock valued at $58,494,000 after buying an additional 74,879 shares during the period. Finally, Alps Advisors Inc. acquired a new position in shares of ABB in the second quarter valued at approximately $279,000. Institutional investors own 5.29% of the company’s stock.
ABB Company Profile
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.
Featured Story: Understanding each part of a balance sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.