ABB (NYSE:ABBNY) Shares Gap Down – Here’s What Happened

Shares of ABB Ltd (NYSE:ABBNY) gapped down prior to trading on Thursday . The stock had previously closed at $55.96, but opened at $54.51. ABB shares last traded at $54.57, with a volume of 37,479 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group downgraded ABB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 29th.

ABB Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35. The firm’s fifty day simple moving average is $56.75 and its 200 day simple moving average is $56.16. The stock has a market capitalization of $101.76 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.74 and a beta of 1.15.

ABB (NYSE:ABBNY) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $8.15 billion for the quarter. ABB had a return on equity of 27.58% and a net margin of 11.90%. On average, sell-side analysts forecast that ABB Ltd will post 2.16 earnings per share 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.