ABB (NYSE:ABBNY) Shares Gap Down - Here's Why

ABB Ltd (NYSE:ABBNY - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $55.96, but opened at $54.51. ABB shares last traded at $54.57, with a volume of 37,479 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABBNY shares. Citigroup downgraded ABB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 2nd. The Goldman Sachs Group cut ABB from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 29th.

ABB Price Performance

The firm has a market cap of $100.38 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92. The firm's 50 day moving average is $56.89 and its 200 day moving average is $56.18.

ABB (NYSE:ABBNY - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.04). ABB had a net margin of 11.90% and a return on equity of 27.58%. The company had revenue of $8.15 billion for the quarter. As a group, analysts anticipate that ABB Ltd will post 2.16 earnings per share for the current year.

ABB Company Profile

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.