JPMorgan Chase Reaffirms Neutral Rating for ABB Group (ABB)

JPMorgan Chase reiterated their neutral rating on shares of ABB Group (NYSE:ABB) in a report published on Thursday morning.

ABB has been the topic of several other research reports. Zacks Investment Research cut shares of ABB Group from a buy rating to a hold rating in a report on Thursday, January 18th. Jefferies Group restated a sell rating and issued a $23.00 target price on shares of ABB Group in a report on Wednesday, March 28th. Robert W. Baird cut their target price on shares of ABB Group from $29.00 to $27.00 and set a neutral rating on the stock in a report on Friday, February 9th. Goldman Sachs restated a buy rating on shares of ABB Group in a report on Monday, January 22nd. Finally, Deutsche Bank restated a buy rating on shares of ABB Group in a report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. ABB Group presently has an average rating of Hold and a consensus price target of $27.00.

Shares of ABB Group stock opened at $23.44 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. ABB Group has a 52-week low of $21.92 and a 52-week high of $28.67. The company has a market capitalization of $50,128.93, a PE ratio of 18.75, a PEG ratio of 2.45 and a beta of 1.16.

ABB Group (NYSE:ABB) last issued its earnings results on Thursday, April 19th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. ABB Group had a net margin of 5.87% and a return on equity of 18.85%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. analysts predict that ABB Group will post 1.4 EPS for the current year.

The business also recently declared an annual dividend, which will be paid on Tuesday, May 15th. Investors of record on Thursday, April 5th will be issued a $0.8261 dividend. The ex-dividend date is Wednesday, April 4th. This represents a yield of 3.44%. This is a boost from ABB Group’s previous annual dividend of $0.75. ABB Group’s payout ratio is 41.60%.

A number of large investors have recently added to or reduced their stakes in ABB. Bank of New York Mellon Corp boosted its holdings in ABB Group by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 115,036 shares of the industrial products company’s stock valued at $2,847,000 after acquiring an additional 10,694 shares in the last quarter. Boyd Watterson Asset Management LLC OH bought a new stake in ABB Group in the fourth quarter valued at $207,000. KCS Wealth Advisory bought a new stake in ABB Group in the fourth quarter valued at $259,000. Atria Investments LLC boosted its holdings in ABB Group by 64.2% in the fourth quarter. Atria Investments LLC now owns 30,638 shares of the industrial products company’s stock valued at $822,000 after acquiring an additional 11,983 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. bought a new stake in ABB Group in the fourth quarter valued at $713,000. Institutional investors and hedge funds own 5.46% of the company’s stock.

About ABB Group

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

Analyst Recommendations for ABB Group (NYSE:ABB)

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