Brokerage firm HSBC Downgrades its rating on ABB Ltd (ADR)(NYSE:ABB). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by HSBC was issued on Aug 19, 2016.
ABB Ltd (ADR) (ABB) made into the market gainers list on Mondays trading session with the shares advancing 0.32% or 0.07 points. Due to strong positive momentum, the stock ended at $21.91, which is also near the day’s high of $21.935. The stock began the session at $21.81 and the volume stood at 9,30,967 shares. The 52-week high of the shares is $22.36 and the 52 week low is $15.74. The company has a current market capitalization of $46,603 M and it has 2,12,69,98,700 shares in outstanding.
ABB Ltd (ADR)(ABB) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $8.68B. Analysts had an estimated revenue of $8.91B. Earnings per share were $0.35. Analysts had estimated an EPS of $0.27.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business -based on five divisions: Discrete Automation and Motion Low Voltage Products Process Automation Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial commercial and residential applications. The Process Automation division provides engineered solutions products and services for process control safety instrumentation plant electrification and energy management. The Power Products division offers a portfolio of products and services to facilitate power generation transmission and distribution. The Power Systems division offers solutions for power and water plants grid integration and automation as well as a range of systems and services for the generation transmission and distribution of electricity. The Company operates in approximately 100 countries.