Erste Group Bank Issues Optimistic Estimate for ABB Earnings

ABB Ltd (OTCMKTS:ABBNY) – Erste Group Bank increased their FY2027 earnings estimates for ABB in a report issued on Wednesday, October 21st. Erste Group Bank analyst H. Engel now forecasts that the industrial products company will post earnings of $3.76 per share for the year, up from their previous estimate of $3.74. Erste Group Bank currently has a “Hold” rating on the stock. The consensus estimate for ABB’s current full-year earnings is $3.89 per share.

ABB (OTCMKTS:ABBNY) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.42). The company had revenue of $9.70 billion for the quarter. ABB had a return on equity of 31.11% and a net margin of 13.55%.

Several other research analysts also recently commented on the stock. TD Cowen reissued a “hold” rating on shares of ABB in a report on Tuesday, June 30th. Dnb Carnegie raised ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ABB in a research report on Tuesday, September 22nd. Zacks Research upgraded ABB from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

ABB Stock Performance

Shares of OTCMKTS ABBNY opened at $83.69 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market cap of $152.58 billion, a P/E ratio of 29.64, a P/E/G ratio of 1.00 and a beta of 1.35. The firm’s fifty day moving average is $96.00 and its two-hundred day moving average is $94.59. ABB has a 52-week low of $67.24 and a 52-week high of $110.20.

Hedge Funds Weigh In On ABB

An institutional investor recently bought a new position in ABB stock. North Star Asset Management Inc. bought a new position in shares of ABB Ltd (OTCMKTS:ABBNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. 1.06% of the stock is currently owned by institutional investors.

About ABB

ABB Ltd. (OTCMKTS:ABBNY) is a Swiss-Swedish technology company that develops products, systems and services for electrification, industrial automation and energy management. Its offerings include electrical distribution equipment, industrial control systems, motors, drives, measurement and analytical instruments, and software designed to improve the efficiency, reliability and sustainability of industrial and commercial operations.

The company also provides robotics and automation solutions for manufacturing, logistics and other industrial applications.