ABB Ltd (NYSE:ABBNY – Get Free Report)’s share price 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 changing hands.
Wall Street Analysts Forecast Growth
Separately, Citigroup cut ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
Check Out Our Latest Analysis on ABB
ABB Price Performance
ABB (NYSE:ABBNY – Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company 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%. Equities research analysts anticipate that ABB Ltd will post 2.14 earnings per share for the current fiscal 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.
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