Several other research firms have also issued reports on ERIC. Vetr lowered shares of Ericsson from a hold rating to a sell rating and set a $7.64 price target for the company. in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. raised shares of Ericsson from a sell rating to a neutral rating in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of Ericsson from a sell rating to a hold rating in a research report on Monday, June 20th. BMO Capital Markets reissued a hold rating and issued a $8.00 price target on shares of Ericsson in a research report on Monday, July 18th. Finally, Bank of America Corp. reissued a hold rating on shares of Ericsson in a research report on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Ericsson currently has a consensus rating of Hold and a consensus target price of $8.32.
Ericsson (NASDAQ:ERIC) traded up 0.092% during midday trading on Thursday, reaching $5.445. The company’s stock had a trading volume of 11,158,060 shares. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 11.297 and a beta of 0.92. The firm has a 50-day moving average price of $6.93 and a 200 day moving average price of $7.72. Ericsson has a 52-week low of $5.35 and a 52-week high of $10.58.
Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%. Equities research analysts predict that Ericsson will post $0.51 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ERIC. Sterling Capital Management LLC boosted its position in shares of Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock worth $110,000 after buying an additional 2,931 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Ericsson by 38.2% in the second quarter. OLD National Bancorp IN now owns 15,638 shares of the company’s stock worth $120,000 after buying an additional 4,325 shares during the last quarter. Societe Generale acquired a new position in shares of Ericsson during the second quarter worth about $133,000. SG Americas Securities LLC boosted its position in shares of Ericsson by 49.1% in the second quarter. SG Americas Securities LLC now owns 17,344 shares of the company’s stock worth $133,000 after buying an additional 5,714 shares during the last quarter. Finally, Smithfield Trust Co. acquired a new position in shares of Ericsson during the second quarter worth about $136,000. 7.29% of the stock is currently owned by hedge funds and other institutional investors.
Ericsson Company Profile
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.
Receive News & Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.