ABB (NYSE:ABBNY) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of ABB Ltd (NYSE:ABBNY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $54.36 and traded as high as $56.41. ABB shares last traded at $56.02, with a volume of 151,585 shares.

Analysts Set New Price Targets

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

ABB Stock Up 0.5 %

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 stock has a 50 day simple moving average of $56.65 and a 200 day simple moving average of $54.36. The firm has a market capitalization of $105.43 billion, a PE ratio of 28.88, a PEG ratio of 2.96 and a beta of 1.16.

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