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

ABB (NYSE:ABBNY) was downgraded by stock analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

Separately, Citigroup downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

ABB Stock Performance

Shares of ABBNY stock opened at $55.96 on Tuesday. The business has a fifty day moving average of $56.71 and a 200 day moving average of $54.70. ABB has a 1 year low of $33.42 and a 1 year high of $59.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.23 and a quick ratio of 0.88. The firm has a market capitalization of $105.32 billion, a price-to-earnings 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 data 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). The business had revenue of $8.15 billion for the quarter. ABB had a net margin of 11.77% and a return on equity of 27.83%. As a group, research analysts expect that ABB will post 2.14 earnings per share for the current 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.