ABB (NYSE:ABBNY) Lowered to Underperform Rating by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of ABB (NYSE:ABBNY) from a market perform rating to an underperform rating in a research report report published on Monday morning, Marketbeat reports.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Citigroup lowered ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Stock Performance

ABB stock opened at $54.62 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The stock has a market cap of $101.63 billion, a PE ratio of 26.13, a P/E/G ratio of 2.74 and a beta of 1.15. ABB has a 12-month low of $40.39 and a 12-month high of $59.66. The business’s 50-day moving average price is $56.28 and its two-hundred day moving average price is $56.00.

ABB (NYSE:ABBNY) last posted its earnings results on Thursday, October 17th. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). ABB had a return on equity of 27.58% and a net margin of 11.90%. The company had revenue of $8.15 billion for the quarter. As a group, analysts expect that ABB will post 2.16 earnings per share for the current fiscal 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.