ABB (NYSE:ABBNY) Rating Lowered to Hold at The Goldman Sachs Group

ABB (NYSE:ABBNY) was downgraded by equities research analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Separately, Citigroup downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Price Performance

Shares of ABBNY opened at $55.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.23 and a quick ratio of 0.88. The stock has a market cap of $105.32 billion, a PE ratio of 28.85, a P/E/G ratio of 2.96 and a beta of 1.16. The firm has a 50-day simple moving average of $56.71 and a two-hundred day simple moving average of $54.70. ABB has a 1-year low of $33.42 and a 1-year high of $59.52.

ABB (NYSE:ABBNY) last released its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). The firm had revenue of $8.15 billion for the quarter. ABB had a return on equity of 27.83% and a net margin of 11.77%. As a group, analysts forecast that ABB will post 2.14 EPS 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.