ABB (OTCMKTS:ABBNY) Sees Large Volume Increase – What’s Next?

ABB Ltd (OTCMKTS:ABBNY) shares saw unusually-strong trading volume on Friday . 977,956 shares traded hands during trading, an increase of 167% from the previous session’s volume of 366,761 shares.The stock last traded at $96.01 and had previously closed at $97.79.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABBNY. Dnb Carnegie raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Zacks Research cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Citigroup reiterated a “neutral” rating on shares of ABB in a research report on Thursday, June 18th. Berenberg Bank raised shares of ABB to a “hold” rating in a research note on Monday, June 1st. Finally, Pareto Securities upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Stock Down 1.5%

The firm has a 50-day simple moving average of $104.18 and a 200 day simple moving average of $93.52. The stock has a market capitalization of $175.68 billion, a P/E ratio of 34.79, a P/E/G ratio of 1.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.38 and a quick ratio of 1.05.

ABB (OTCMKTS:ABBNY) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.13). The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.34 billion. ABB had a return on equity of 31.52% and a net margin of 13.86%. On average, equities research analysts forecast that ABB Ltd will post 3.76 EPS 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.