ABB (OTCMKTS:ABBNY) Shares Gap Down Following Weak Earnings

ABB Ltd (OTCMKTS:ABBNY) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $103.47, but opened at $97.88. ABB shares last traded at $97.76, with a volume of 15,122 shares.

The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). ABB had a return on equity of 31.94% and a net margin of 13.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded ABB from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Royal Bank Of Canada restated a “sector perform” rating on shares of ABB in a research report on Wednesday, May 6th. Pareto Securities raised shares of ABB from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.

ABB Price Performance

The company has a 50-day moving average of $105.14 and a 200 day moving average of $92.65. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $176.13 billion, a PE ratio of 35.52, a PEG ratio of 1.62 and a beta of 1.36.

ABB Company Profile

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.