ABB (NYSE:ABBNY) Stock Passes Above 200 Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $56.16 and traded as high as $58.23. ABB shares last traded at $58.03, with a volume of 143,122 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on ABBNY. The Goldman Sachs Group cut ABB from a “strong-buy” rating to a “hold” rating in a research note 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 Stock Up 0.7 %

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 $107.97 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The business has a fifty day moving average of $56.93 and a 200-day moving average of $56.16.

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). The firm had revenue of $8.15 billion during the quarter. ABB had a net margin of 11.90% and a return on equity of 27.58%. Equities research analysts anticipate that ABB Ltd will post 2.16 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.