Is ABB a Dividend Stock to Buy Now?
It's been an interesting year, to say the least, for shareholders in ABB (NYSE: ABB). The stock has been on a wild rollercoaster ride in 2020: Down nearly 40% in mid-March and then up 9% on a year-to-date basis after its second-quarter earnings report was released on July 22. What's going on and is there room for the stock to run?
Investors started the year hoping the industrial company's turnaround strategy would begin to bear fruit, just as the industrial economy looked set for a cyclical bounce. Moreover, following years of underperformance, a new CEO, Bjorn Rosengren, took office in March in order to oversee the transformation toward the kind of earnings margins enjoyed by its peers.
ABB is hoping robotics revenue will come back with increased automotive production. Image source: Getty Images.
Source Fool.com
