Telefonaktiebolaget LM Ericsson Target of Unusually Large Options Trading (ERIC)
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was the recipient of unusually large options trading on Wednesday. Investors acquired 6,807 put options on the company, StockRatingsNetwork.com reports. This is an increase of approximately 256% compared to the typical daily volume of 1,912 put options.
A number of research firms have recently commented on ERIC. Analysts at UBS AG upgraded shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 31st. Separately, analysts at Deutsche Bank upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Telefonaktiebolaget LM Ericsson in a research note to investors on Friday, December 13th. They now have a $12.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.50.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded up 1.98% during mid-day trading on Thursday, hitting $12.37. 905,388 shares of the company’s stock traded hands. Telefonaktiebolaget LM Ericsson has a one year low of $10.67 and a one year high of $14.22. The stock has a 50-day moving average of $11.99 and a 200-day moving average of $12.41. The company has a market cap of $39.968 billion and a price-to-earnings ratio of 21.90.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings data on Friday, January 31st. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.13. The company had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.09 billion. Analysts expect that Telefonaktiebolaget LM Ericsson will post $0.83 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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