ABB (OTCMKTS:ABBNY) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• ABB shares crossed above their 200-day moving average, reaching $102.26 before closing at $100.86, compared with a 200-day average of $95.09.
• Analyst sentiment remains cautious: ABB has an average “Hold” rating from 13 analysts, with a consensus price target of $58.00, well below the current share price.
• In its latest quarter, ABB reported $0.66 in EPS, missing the $0.79 estimate, while revenue of $9.47 billion exceeded expectations of $9.34 billion.

ABB Ltd (OTCMKTS:ABBNY - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $95.09 and traded as high as $102.26. ABB shares last traded at $100.86, with a volume of 206,667 shares.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Berenberg Bank upgraded ABB to a "hold" rating in a research report on Monday, June 1st. Citigroup reissued a "neutral" rating on shares of ABB in a research note on Thursday, June 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of ABB in a research note on Tuesday, July 21st. Dnb Carnegie raised shares of ABB from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a "sell" rating to a "hold" rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $58.00.

ABB Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market cap of $183.88 billion, a PE ratio of 36.41, a P/E/G ratio of 1.49 and a beta of 1.36. The company's fifty day moving average price is $102.80 and its 200 day moving average price is $95.09.

ABB (OTCMKTS:ABBNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.13). The company had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $9.34 billion. ABB had a return on equity of 31.25% and a net margin of 13.86%. On average, equities research analysts predict that ABB Ltd will post 3.79 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source