ABB (NYSE:ABBNY) Shares Gap Down – Here’s What Happened

ABB Ltd (NYSE:ABBNY) shares gapped down prior to trading on Thursday . The stock had previously closed at $55.96, but opened at $54.51. ABB shares last traded at $54.57, with a volume of 37,479 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup cut ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group cut ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

ABB Trading Down 3.7 %

The firm has a market cap of $100.31 billion, a P/E ratio of 25.80, a P/E/G ratio of 2.74 and a beta of 1.15. The firm has a fifty day moving average of $56.89 and a 200-day moving average of $56.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35.

ABB (NYSE:ABBNY) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $8.15 billion for the quarter. ABB had a return on equity of 27.58% and a net margin of 11.90%. Equities research analysts forecast that ABB Ltd will post 2.16 earnings per share for the current year.

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.