AB Volvo (OTCMKTS:VLVLY) Cut to Hold at Citigroup

Key Points

• Citigroup downgraded AB Volvo from “strong buy” to “hold,” while Zacks Research cut its rating to “strong sell” and Erste Group Bank also moved to “hold.” Analysts’ overall consensus rating is “Hold.”
• AB Volvo shares opened at $31.30, down 0.2%, with a market capitalization of $63.65 billion and a 52-week trading range of $26.77 to $39.62.
• The company reported quarterly EPS of $0.55, in line with estimates, but revenue of $12.04 billion fell short of the $12.53 billion analyst consensus.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) was downgraded by Citigroup from a "strong-buy" rating to a "hold" rating in a report issued on Monday, Zacks reports.

A number of other equities analysts have also weighed in on the company. Zacks Research lowered AB Volvo from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Erste Group Bank downgraded AB Volvo from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

AB Volvo Trading Down 0.2%

Shares of AB Volvo stock opened at $31.30 on Monday. The company has a market capitalization of $63.65 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.82 and a current ratio of 1.10. The company has a fifty day moving average of $33.27 and a 200 day moving average of $34.75. AB Volvo has a fifty-two week low of $26.77 and a fifty-two week high of $39.62.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. The business had revenue of $12.04 billion during the quarter, compared to analyst estimates of $12.53 billion. AB Volvo had a return on equity of 21.50% and a net margin of 8.12%. On average, sell-side analysts anticipate that AB Volvo will post 2.11 earnings per share for the current fiscal year.

About AB Volvo

AB Volvo is a Sweden-based manufacturer of commercial vehicles and transportation-related products. Founded in 1927 and headquartered in Gothenburg, the company develops and sells trucks, buses, construction equipment, and marine and industrial engines. AB Volvo is separate from Volvo Cars, which became an independent company in 1999.

The company's commercial vehicle operations include heavy-duty, medium-duty, and light-duty trucks sold under brands such as Volvo Trucks, Mack Trucks, Renault Trucks, and UD Trucks.

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