Zacks Investment Research cut shares of Volvo Ab (NASDAQ:VLVLY) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday, July 13th.
According to Zacks, “Volvo AB is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. It also develops, manufactures and markets equipment for construction and related industries, including wheel and backhoe loaders, hydraulic wheeled and crawler excavators, articulated and rigid haulers, compactors, pavers, pipe layers, road machinery under the brand names of Volvo, SDLG and Terex Trucks. The Company offers repair and maintenance, lease financing, insurance and financial services. It operates primarily in Europe, North America, South America, Asia, and internationally. Volvo AB is headquartered in Gothenburg, Sweden. “
Shares of Volvo Ab (NASDAQ:VLVLY) opened at 17.42 on Thursday. Volvo Ab has a 52-week low of $10.09 and a 52-week high of $18.07. The firm has a market capitalization of $35.40 billion and a price-to-earnings ratio of 16.13.
Volvo Ab (NASDAQ:VLVLY) last announced its earnings results on Wednesday, July 19th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $9.49 billion.
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