Shares of ABB Group (NYSE:ABB) gapped down before the market opened on Thursday . The stock had previously closed at $22.44, but opened at $22.28. ABB Group shares last traded at $22.78, with a volume of 1701493 shares.
ABB has been the subject of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $29.00 target price on shares of ABB Group in a report on Friday, December 15th. Zacks Investment Research raised shares of ABB Group from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, December 13th. Goldman Sachs reaffirmed a “buy” rating on shares of ABB Group in a report on Monday, December 11th. Berenberg Bank raised shares of ABB Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase reaffirmed a “neutral” rating on shares of ABB Group in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. ABB Group has a consensus rating of “Hold” and an average target price of $27.00.
The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.35. The firm has a market cap of $47,648.14, a PE ratio of 17.86, a PEG ratio of 2.32 and a beta of 1.16.
ABB Group (NYSE:ABB) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.08. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.49 billion. ABB Group had a net margin of 6.45% and a return on equity of 18.11%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. equities analysts anticipate that ABB Group will post 1.41 earnings per share for the current year.
The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Thursday, April 5th will be issued a $0.8261 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a yield of 3.44%. This is an increase from ABB Group’s previous annual dividend of $0.75. ABB Group’s payout ratio is currently 41.60%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. bought a new stake in shares of ABB Group during the 3rd quarter worth approximately $113,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of ABB Group during the 4th quarter worth approximately $118,000. Icon Wealth Partners LLC bought a new stake in shares of ABB Group during the 4th quarter worth approximately $118,000. Premia Global Advisors LLC bought a new stake in shares of ABB Group during the 4th quarter worth approximately $146,000. Finally, Round Table Services LLC bought a new stake in shares of ABB Group during the 4th quarter worth approximately $203,000. 5.45% of the stock is owned by hedge funds and other institutional investors.
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ABB Group Company Profile
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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