ABB (NYSE:ABBNY) Hits New 12-Month High – Here’s Why

ABB Ltd (NYSE:ABBNY) shares reached a new 52-week high during trading on Monday . The stock traded as high as $59.66 and last traded at $59.53, with a volume of 13980 shares traded. The stock had previously closed at $59.05.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of several recent analyst reports. Citigroup lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

ABB Stock Down 1.8 %

The company has a 50-day simple moving average of $56.90 and a 200-day simple moving average of $56.02. 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 firm has a market cap of $107.49 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.15.

ABB (NYSE:ABBNY) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). ABB had a net margin of 11.90% and a return on equity of 27.58%. The company had revenue of $8.15 billion for the quarter. Analysts expect that ABB Ltd will post 2.16 earnings per share for the current fiscal 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.