Telefonaktiebolaget LM Ericsson Hits New 52-Week High at $13.67 (ERIC)
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) set a new 52-week high during mid-day trading on Wednesday, AnalystRatings.Net reports. The stock traded as high as $13.67 and last traded at $13.64, with a volume of 2,338,402 shares. The stock had previously closed at $13.40.
ERIC has been the subject of a number of recent research reports. Analysts at Swedbank downgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at Berenberg Bank upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a “sell” rating to a “buy” rating in a research note to investors on Wednesday. Finally, analysts at Credit Suisse upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, September 6th.
Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Telefonaktiebolaget LM Ericsson has a 52 week low of $8.31 and a 52 week high of $13.46. The stock’s 50-day moving average is $12.16 and its 200-day moving average is $12.1. The company’s market cap is $44.025 billion.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings data on Thursday, July 18th. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.16 by $0.28. The company had revenue of $55.30 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the company posted $0.78 earnings per share. Telefonaktiebolaget LM Ericsson’s revenue was up .0% compared to the same quarter last year. Analysts expect that Telefonaktiebolaget LM Ericsson will post $0.73 EPS for the current fiscal year.
Telefonaktiebolaget LM Ericsson is a Sweden-based communications technology company. The Company is engaged in the provision of communications infrastructure, services and multimedia solutions.
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