ABB (NYSE:ABBNY) Stock Rating Lowered by Citigroup

ABB (NYSE:ABBNY) was downgraded by investment analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

ABB Stock Up 0.4 %

ABBNY traded up $0.23 during trading on Wednesday, reaching $57.56. The stock had a trading volume of 110,762 shares, compared to its average volume of 229,787. The stock’s 50 day moving average is $55.48 and its two-hundred day moving average is $53.34. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $108.33 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.97 and a beta of 1.16. ABB has a one year low of $32.88 and a one year high of $59.52.

ABB (NYSE:ABBNY) last released its quarterly earnings data 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). The business had revenue of $8.24 billion for the quarter. ABB had a net margin of 11.77% and a return on equity of 27.83%. As a group, analysts expect that ABB will post 2.16 earnings per share for the current year.

About ABB

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.