ERIC has been the topic of a number of other reports. Vetr raised Ericsson from a buy rating to a strong-buy rating in a report on Monday, August 29th. Morgan Stanley reaffirmed a neutral rating on shares of Ericsson in a report on Monday, October 10th. Zacks Investment Research lowered Ericsson from a hold rating to a sell rating in a report on Tuesday, September 20th. BMO Capital Markets reaffirmed a market perform rating and set a $7.00 target price on shares of Ericsson in a report on Thursday. Finally, Credit Suisse Group AG raised Ericsson from an underperform rating to a neutral rating in a report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Ericsson currently has an average rating of Hold and a consensus target price of $8.21.
Ericsson (NASDAQ:ERIC) traded down 0.18% on Friday, hitting $5.43. 23,886,991 shares of the stock were exchanged. Ericsson has a 52 week low of $5.35 and a 52 week high of $10.56. The company’s 50-day moving average is $6.87 and its 200-day moving average is $7.69. The company has a market cap of $17.71 billion, a PE ratio of 11.27 and a beta of 0.92.
Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. On average, analysts predict that Ericsson will post $0.51 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC increased 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 increased 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 bought a new position in shares of Ericsson during the second quarter worth $133,000. SG Americas Securities LLC increased 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. bought a new position in shares of Ericsson during the second quarter worth $136,000. 7.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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