Jefferies Financial Group Comments on ABB Ltd’s Q3 2022 Earnings (NYSE:ABB)

ABB Ltd (NYSE:ABBGet Rating) – Jefferies Financial Group issued their Q3 2022 EPS estimates for ABB in a research report issued on Wednesday, September 7th. Jefferies Financial Group analyst S. Toennessen anticipates that the industrial products company will post earnings of $0.33 per share for the quarter. The consensus estimate for ABB’s current full-year earnings is $1.33 per share. Jefferies Financial Group also issued estimates for ABB’s FY2024 earnings at $1.59 EPS.

A number of other research analysts have also recently issued reports on ABB. Morgan Stanley boosted their price objective on shares of ABB from CHF 27 to CHF 27.20 in a report on Tuesday, July 5th. Stifel Nicolaus initiated coverage on shares of ABB in a report on Thursday, June 30th. They issued a “buy” rating for the company. StockNews.com cut shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, September 5th. UBS Group reduced their price target on shares of ABB from CHF 37 to CHF 35 in a report on Friday, July 22nd. Finally, Citigroup lowered shares of ABB from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.03.

ABB Stock Up 2.1 %

Shares of NYSE ABB opened at $28.52 on Friday. The stock has a market cap of $56.03 billion, a P/E ratio of 13.20, a P/E/G ratio of 3.37 and a beta of 1.11. The firm has a 50 day moving average price of $28.47 and a 200 day moving average price of $30.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.06. ABB has a 52-week low of $25.80 and a 52-week high of $39.11.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Intersect Capital LLC raised its holdings in ABB by 5.2% during the 2nd quarter. Intersect Capital LLC now owns 12,165 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 601 shares during the last quarter. Columbia Asset Management bought a new position in ABB during the 2nd quarter worth approximately $337,000. Summit Global Investments raised its holdings in ABB by 57.8% during the 2nd quarter. Summit Global Investments now owns 57,284 shares of the industrial products company’s stock worth $1,531,000 after purchasing an additional 20,988 shares during the last quarter. Captrust Financial Advisors raised its holdings in ABB by 6.3% during the 2nd quarter. Captrust Financial Advisors now owns 10,436 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 619 shares during the last quarter. Finally, Horizons Wealth Management acquired a new stake in shares of ABB during the 2nd quarter worth approximately $248,000. Institutional investors own 5.41% of the company’s stock.

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.

Featured Stories

Earnings History and Estimates for ABB (NYSE:ABB)

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.