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ABB Ltd. (ABB) Unveils New Offerings; Invests $60M in the US
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ABB Ltd. recently unveiled its latest electrical innovations and announced investment of more than $60 million to enhance its power distribution and protection, and residential circuit protection portfolios. The investment comes across as a strategic move to expand the broad range of installation products offered by Thomas & Betts, a subsidiary of ABB.
This Zacks Rank #3 (Hold) company has been strongly committed toward streamlining its cost structure. The recent investment is an addition to the $10 million investment made earlier to localize production of electrical components in Senatobia, MS. These components were previously manufactured overseas. The company opened a manufacturing facility in Oct 2016, having a total area of 85,000 square feet and 100 employees.
ABB announced its plans of expanding the employee base to 300 over the next five years. As a matter of fact, ABB has been steadily fortifyonh its foothold in the U.S., having invested more than $100 million since the Thomas & Betts buyout in 2012. The company has thoroughly expanded its electrical solutions portfolio with time, and has similar future plans to gain a competitive advantage over its peers.
In terms of innovation, the company has launched low-voltage power distribution solutions, residential load protection solutions, and UPS and switching solutions. The low-voltage power distribution solutions include ReliaGear switchgear, motor control center, SafeT switchboard, SafeT panelboard and busway. These offerings boost its medium and low-voltage solutions. On the other hand, SENTRICITY Load Centers and Circuit Breakers is the latest residential solution that has been designed exclusively for the North American market.
ABB is one of the best managed industrial infrastructure, power and automation companies in the world that stands to benefit from investments made in the upgrade of power infrastructure. The company focuses on reduction of energy intensity across all end-markets. Over the past three months, the company’s shares recorded an average return of 7.7%, above the Zacks categorized Machinery-Electrical industry average of 6.4%.
The recent investments highlight the company’s efforts to bring reliable and green power products to the U.S. market. Steadily growing investments in the U.S. power infrastructure is expected to prove conducive to ABB's growth. Also, the company believes that utility customers will prove to be one of the major profit churners over the long run.
ABB has had a remarkable earnings surprise history and has achieved an average positive earnings surprise of 14.3% over the trailing four quarters, beating estimates all through. Please note that brokers are on the sidelines for the stock as its earnings estimates remained unchanged over the month. The Zacks Consensus Estimate for full-year 2017 remained unchanged at $1.21 over the same time frame.
Stocks to Consider
Better-ranked stocks in the broader sector include II-VI Inc. , EnerSys (ENS - Free Report) and Applied Industrial Technologies Inc. (AIT - Free Report) . While II-VI sports a Zacks Rank #1 (Strong Buy), Applied Industrial Technologies and EnerSys carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
II-VI Incorporated has registered a remarkable positive average surprise of 59.2% for the four trailing quarters, driven by strong, consecutive earnings beats throughout.
EnerSys has a positive average surprise of 4.4% for the trailing four quarters, beating estimates throughout.
Applied Industrial Technologies managed to beat estimates thrice over the trailing four quarters and has a positive earnings surprise of 6.2%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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ABB Ltd. (ABB) Unveils New Offerings; Invests $60M in the US
ABB Ltd. recently unveiled its latest electrical innovations and announced investment of more than $60 million to enhance its power distribution and protection, and residential circuit protection portfolios. The investment comes across as a strategic move to expand the broad range of installation products offered by Thomas & Betts, a subsidiary of ABB.
This Zacks Rank #3 (Hold) company has been strongly committed toward streamlining its cost structure. The recent investment is an addition to the $10 million investment made earlier to localize production of electrical components in Senatobia, MS. These components were previously manufactured overseas. The company opened a manufacturing facility in Oct 2016, having a total area of 85,000 square feet and 100 employees.
ABB announced its plans of expanding the employee base to 300 over the next five years. As a matter of fact, ABB has been steadily fortifyonh its foothold in the U.S., having invested more than $100 million since the Thomas & Betts buyout in 2012. The company has thoroughly expanded its electrical solutions portfolio with time, and has similar future plans to gain a competitive advantage over its peers.
In terms of innovation, the company has launched low-voltage power distribution solutions, residential load protection solutions, and UPS and switching solutions. The low-voltage power distribution solutions include ReliaGear switchgear, motor control center, SafeT switchboard, SafeT panelboard and busway. These offerings boost its medium and low-voltage solutions. On the other hand, SENTRICITY Load Centers and Circuit Breakers is the latest residential solution that has been designed exclusively for the North American market.
ABB is one of the best managed industrial infrastructure, power and automation companies in the world that stands to benefit from investments made in the upgrade of power infrastructure. The company focuses on reduction of energy intensity across all end-markets. Over the past three months, the company’s shares recorded an average return of 7.7%, above the Zacks categorized Machinery-Electrical industry average of 6.4%.
The recent investments highlight the company’s efforts to bring reliable and green power products to the U.S. market. Steadily growing investments in the U.S. power infrastructure is expected to prove conducive to ABB's growth. Also, the company believes that utility customers will prove to be one of the major profit churners over the long run.
ABB has had a remarkable earnings surprise history and has achieved an average positive earnings surprise of 14.3% over the trailing four quarters, beating estimates all through. Please note that brokers are on the sidelines for the stock as its earnings estimates remained unchanged over the month. The Zacks Consensus Estimate for full-year 2017 remained unchanged at $1.21 over the same time frame.
Stocks to Consider
Better-ranked stocks in the broader sector include II-VI Inc. , EnerSys (ENS - Free Report) and Applied Industrial Technologies Inc. (AIT - Free Report) . While II-VI sports a Zacks Rank #1 (Strong Buy), Applied Industrial Technologies and EnerSys carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
II-VI Incorporated has registered a remarkable positive average surprise of 59.2% for the four trailing quarters, driven by strong, consecutive earnings beats throughout.
EnerSys has a positive average surprise of 4.4% for the trailing four quarters, beating estimates throughout.
Applied Industrial Technologies managed to beat estimates thrice over the trailing four quarters and has a positive earnings surprise of 6.2%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>