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

ABB Ltd (NYSE:ABBNY)’s share price 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. The stock had previously closed at $59.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ABBNY shares. Citigroup cut ABB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group cut ABB from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 29th.

ABB Price Performance

The company has a market capitalization of $107.49 billion, a PE ratio of 27.64, a PEG ratio of 2.76 and a beta of 1.15. The firm has a fifty day moving average of $56.90 and a two-hundred day moving average of $56.02. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.45.

ABB (NYSE:ABBNY) last issued its 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). The company had revenue of $8.15 billion for the quarter. ABB had a net margin of 11.90% and a return on equity of 27.58%. Research analysts anticipate that ABB Ltd will post 2.16 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.