ABB (NYSE:ABBNY) Stock Passes Above 200 Day Moving Average – What’s Next?

ABB Ltd (NYSE:ABBNY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.31 and traded as high as $56.29. ABB shares last traded at $56.11, with a volume of 308,079 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABBNY shares. The Goldman Sachs Group lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Citigroup cut ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Trading Down 0.2 %

The firm’s 50 day moving average price is $56.78 and its 200-day moving average price is $55.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92. The stock has a market cap of $104.40 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.85 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). ABB had a net margin of 11.90% and a return on equity of 27.58%. The business had revenue of $8.15 billion for the quarter. As a group, equities research analysts forecast that ABB Ltd will post 2.13 earnings per share for the current year.

ABB Company Profile

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.