ABB (NYSE:ABBNY) Downgraded by Citigroup to Hold

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

ABB Price Performance

Shares of NYSE:ABBNY traded up $0.23 during trading on Wednesday, reaching $57.56. The company had a trading volume of 110,762 shares, compared to its average volume of 229,787. The firm has a market capitalization of $108.33 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.97 and a beta of 1.16. ABB has a twelve month low of $32.88 and a twelve month high of $59.52. 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 fifty day moving average is $55.48 and its 200 day moving average is $53.34.

ABB (NYSE:ABBNY) last announced 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). ABB had a return on equity of 27.83% and a net margin of 11.77%. The company had revenue of $8.24 billion for the quarter. On average, equities analysts forecast that ABB will post 2.16 EPS 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.