ABB Ltd (NYSE:ABB) Expected to Post Quarterly Sales of $8.64 Billion

Shares of ABB (VTX:ABBN) traded down 3.01% during trading on Monday, reaching CHK 22.54. Folketrygdfondet now owns 1,977,278 shares of the industrial products company's stock worth $46,268,000 after buying an additional 695,986 shares in the last quarter. Finally, Berenberg Bank set a CHF 21 price objective on ABB and gave the stock a sell rating in a research note on Tuesday, June 6th. ABB Ltd has a 52-week low of $20.26 and a 52-week high of $25.83.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, July 20th. The company has a market capitalization of $53.23 billion, a PE ratio of 25.16 and a beta of 1.08. Quantbot Technologies LP acquired a new stake in shares of ABB during the first quarter worth about $206,000. The company has a 50 day moving average of CHK 24.21 and a 200-day moving average of CHK 23.52. The original version of this news story can be accessed at https://www.com-unik.info/2017/07/23/abb-ltd-abb-stock-rating-lowered-by-morgan-stanley.html.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Citigroup Inc. reissued a "sell" rating on shares of ABB in a research note on Friday, June 9th. (The) set a CHF 24 target price on ABB and gave the stock a neutral rating in a research note on Thursday, June 29th. Baird Financial Group Inc. now owns 1,566,385 shares of the industrial products company's stock worth $36,653,000 after buying an additional 1,172,057 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in ABB during the first quarter worth approximately $2,421,000.

Shares of ABB Ltd (NYSE:ABB) have earned a consensus recommendation of "Hold" from the fifteen research firms that are now covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. The industrial products company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.33 by $0.03. Atlantic Trust Group LLC now owns 80,550 shares of the industrial products company's stock valued at $1,884,000 after buying an additional 441 shares during the last quarter. The firm's revenue was down 2.6% on a year-over-year basis. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. The stock now has a consensus rating of "Hold" and an average price target of CHF 23.69. ABB had a net margin of 6.87% and a return on equity of 18.50%. On average, analysts forecast that ABB will post $1.22 EPS for the current fiscal year. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & worldwide copyright laws. Huntington National Bank increased its position in shares of ABB by 40.3% in the second quarter. During the same quarter past year, the company posted $0.35 EPS. Zacks Investment Research downgraded shares of ABB from a "hold" rating to a "sell" rating in a research note on Friday, April 21st. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids.

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