ABB (NYSE:ABBNY) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

ABB (NYSE:ABBNY) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04), Yahoo Finance reports. The company had revenue of $8.15 billion during the quarter. ABB had a return on equity of 27.83% and a net margin of 11.77%.

ABB Stock Down 1.8 %

ABB stock traded down $1.07 during midday trading on Friday, reaching $57.13. The stock had a trading volume of 50,008 shares, compared to its average volume of 224,358. ABB has a 1-year low of $32.88 and a 1-year high of $59.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.23. The firm’s fifty day simple moving average is $56.34 and its 200-day simple moving average is $54.01. The stock has a market capitalization of $107.52 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 2.96 and a beta of 1.16.

Wall Street Analysts Forecast Growth

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

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.