ABB (NYSE:ABBNY) Shares Gap Up – Should You Buy?

ABB Ltd (NYSE:ABBNY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $56.72, but opened at $58.62. ABB shares last traded at $58.27, with a volume of 15,377 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Trading Up 2.5 %

The stock has a 50 day simple moving average of $56.22 and a 200-day simple moving average of $53.98. The firm has a market capitalization of $109.44 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.96 and a beta of 1.16. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

ABB (NYSE:ABBNY) last released its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The firm had revenue of $8.24 billion for the quarter. ABB had a net margin of 11.77% and a return on equity of 27.83%. On average, equities research analysts forecast that ABB Ltd will post 2.14 EPS for the current fiscal 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.