ABB (NYSE:ABBNY) Stock Rating Lowered by Citigroup

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

ABB Stock Up 0.4 %

Shares of NYSE:ABBNY traded up $0.23 during mid-day trading on Wednesday, hitting $57.56. 110,762 shares of the company 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 firm has a market cap of $108.33 billion, a P/E ratio of 29.67, a PEG ratio of 2.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.23. The firm’s 50 day simple moving average is $55.48 and its 200 day simple moving average is $53.34.

ABB (NYSE:ABBNY) last released its earnings results on Thursday, July 18th. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The company 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%. On average, equities analysts anticipate that ABB will post 2.16 EPS for the current 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.