Ericsson (NASDAQ:ERIC) was upgraded by investment analysts at Credit Suisse Group AG from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday.
A number of other analysts have also issued reports on ERIC. BMO Capital Markets restated a “hold” rating and set a $7.00 target price on shares of Ericsson in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Ericsson from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Vetr upgraded shares of Ericsson from a “hold” rating to a “buy” rating and set a $7.69 price target on the stock in a report on Monday, June 13th. Goldman Sachs Group Inc. upgraded shares of Ericsson from a “sell” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, Canaccord Genuity decreased their price target on shares of Ericsson from $8.50 to $7.00 and set a “hold” rating on the stock in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.49.
Shares of Ericsson (NASDAQ:ERIC) opened at 6.81 on Monday. Ericsson has a 52-week low of $6.68 and a 52-week high of $10.58. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 14.07 and a beta of 1.01. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.93.
Ericsson (NASDAQ:ERIC) last announced its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Telemus Capital LLC increased its stake in Ericsson by 16.9% in the second quarter. Telemus Capital LLC now owns 25,113 shares of the company’s stock valued at $193,000 after buying an additional 3,636 shares during the last quarter. Princeton Alpha Management LP bought a new stake in Ericsson during the second quarter valued at $425,000. Bessemer Group Inc. increased its stake in Ericsson by 48.5% in the first quarter. Bessemer Group Inc. now owns 52,008 shares of the company’s stock valued at $522,000 after buying an additional 16,985 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Ericsson during the second quarter valued at $190,000. Finally, Orbis Allan Gray Ltd bought a new stake in Ericsson during the first quarter valued at $1,605,000. 7.29% of the stock is owned by institutional investors.
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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