Jefferies Financial Group Weighs in on ABB Ltd’s Q2 2022 Earnings (NYSE:ABB)

ABB Ltd (NYSE:ABBGet Rating) – Research analysts at Jefferies Financial Group increased their Q2 2022 earnings per share (EPS) estimates for ABB in a report released on Wednesday, May 11th. Jefferies Financial Group analyst S. Toennessen now forecasts that the industrial products company will post earnings per share of $0.41 for the quarter, up from their prior estimate of $0.38. Jefferies Financial Group also issued estimates for ABB’s FY2024 earnings at $1.87 EPS.

ABB (NYSE:ABBGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). ABB had a return on equity of 19.34% and a net margin of 16.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year.

ABB has been the subject of several other research reports. Royal Bank of Canada upgraded shares of ABB from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 19th. Barclays cut their price objective on ABB from CHF 36 to CHF 34 in a report on Tuesday, April 5th. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Tuesday, February 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ABB from CHF 31 to CHF 32 in a research note on Thursday, January 13th. Finally, HSBC lowered shares of ABB from a “buy” rating to a “hold” rating in a research note on Tuesday, March 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ABB presently has a consensus rating of “Hold” and an average target price of $34.13.

Shares of ABB opened at $28.15 on Friday. The firm has a 50-day simple moving average of $31.87 and a two-hundred day simple moving average of $34.28. The stock has a market cap of $57.80 billion, a PE ratio of 12.08, a P/E/G ratio of 3.28 and a beta of 1.04. ABB has a 1-year low of $27.74 and a 1-year high of $39.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 0.85.

Several institutional investors have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of ABB by 5.8% during the 2nd quarter. Morgan Stanley now owns 1,872,588 shares of the industrial products company’s stock valued at $63,649,000 after acquiring an additional 102,394 shares during the period. Deutsche Bank AG boosted its position in shares of ABB by 320.0% in the third quarter. Deutsche Bank AG now owns 53,274 shares of the industrial products company’s stock worth $1,777,000 after acquiring an additional 40,591 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of ABB by 24.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 268,031 shares of the industrial products company’s stock valued at $8,941,000 after buying an additional 52,095 shares during the period. Commerce Bank increased its stake in ABB by 1.3% during the third quarter. Commerce Bank now owns 46,580 shares of the industrial products company’s stock worth $1,553,000 after acquiring an additional 592 shares during the last quarter. Finally, BlackRock Inc. lifted its position in ABB by 3.9% during the third quarter. BlackRock Inc. now owns 886,124 shares of the industrial products company’s stock valued at $29,561,000 after buying an additional 33,339 shares in the last quarter. Institutional investors and hedge funds own 14.37% of the company’s stock.

The business also recently declared an annual dividend, which was paid on Wednesday, May 11th. Investors of record on Tuesday, March 29th were given a $0.53 dividend. This represents a yield of 1.86%. The ex-dividend date of this dividend was Monday, March 28th. ABB’s dividend payout ratio (DPR) is presently 22.75%.

ABB Company Profile (Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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