Ericsson Coverage Initiated by Analysts at Jefferies Group (ERIC)
Stock analysts at Jefferies Group began coverage on shares of Ericsson (NASDAQ:ERIC) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
Shares of Ericsson (NASDAQ:ERIC) opened at 12.12 on Thursday. Ericsson has a 1-year low of $11.26 and a 1-year high of $14.22. The stock has a 50-day moving average of $12.28 and a 200-day moving average of $12.42. The company has a market cap of $39.194 billion and a P/E ratio of 20.54.
Ericsson (NASDAQ:ERIC) last announced its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.93 by $0.03. The company had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $51.40 billion. During the same quarter last year, the company posted $0.99 earnings per share. Ericsson’s revenue was down 8.7% compared to the same quarter last year. On average, analysts predict that Ericsson will post $0.76 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ERIC. Analysts at Zacks reiterated a “neutral” rating on shares of Ericsson in a research note on Thursday, May 15th. They now have a $13.00 price target on the stock. Separately, analysts at Argus downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, analysts at Evercore Partners cut their price target on shares of Ericsson from $17.00 to $15.00 in a research note on Thursday, April 24th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Ericsson currently has an average rating of “Hold” and an average price target of $14.50.
Ericsson is a Sweden-based company that provides communications networks, telecom services and support solutions.
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