ABB (NYSE:ABBNY) Issues Earnings Results

ABB (NYSE:ABBNY) announced its earnings results on Thursday. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04), Yahoo Finance reports. The company 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%.

ABB Stock Down 1.9 %

ABBNY stock opened at $57.12 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. ABB has a twelve month low of $32.88 and a twelve month high of $59.52. The company’s 50 day moving average is $56.34 and its two-hundred day moving average is $54.01. The stock has a market cap of $107.50 billion, a P/E ratio of 30.00, a PEG ratio of 2.96 and a beta of 1.16.

Analyst Upgrades and Downgrades

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

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.