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

ABB Ltd (NYSE:ABBNY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.31 and traded as high as $56.29. ABB shares last traded at $56.11, with a volume of 308,079 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

ABB Stock Down 0.2 %

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 company’s 50-day moving average price is $56.78 and its 200 day moving average price is $55.41. The stock has a market capitalization of $104.40 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.85 and a beta of 1.16.

ABB (NYSE:ABBNY) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business 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%. As a group, equities analysts expect that ABB Ltd will post 2.13 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.