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

ABB (NYSE:ABBNY) was downgraded by investment analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report issued 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

ABBNY stock opened at $55.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.23. The company’s fifty day moving average price is $56.71 and its 200-day moving average price is $54.70. ABB has a one year low of $33.42 and a one year high of $59.52. The company has a market capitalization of $105.32 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.16.

ABB (NYSE:ABBNY) last announced 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). ABB had a return on equity of 27.83% and a net margin of 11.77%. The company had revenue of $8.15 billion during the quarter. On average, equities analysts anticipate that ABB will post 2.14 EPS 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.