Ericsson (ERIC) Rating Reiterated by Morgan Stanley
Ericsson (NASDAQ:ERIC)‘s stock had its “neutral” rating reiterated by investment analysts at Morgan Stanley in a research report issued on Monday.
ERIC has been the subject of a number of other research reports. Charter Equity cut shares of Ericsson from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 20th. Barclays PLC raised shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Bank of America Corp. reaffirmed a “hold” rating on shares of Ericsson in a research note on Tuesday, July 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Ericsson in a research note on Monday, July 18th. Finally, Vetr raised shares of Ericsson from a “sell” rating to a “strong-buy” rating in a research note on Friday, June 24th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.49.
Shares of Ericsson (NASDAQ:ERIC) traded up 1.053% during trading on Monday, reaching $7.195. 1,343,744 shares of the company were exchanged. Ericsson has a one year low of $6.68 and a one year high of $10.58. The stock has a market capitalization of $23.47 billion, a PE ratio of 14.805 and a beta of 0.92. The stock has a 50-day moving average price of $7.06 and a 200-day moving average price of $7.81.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/ericsson-eric-rating-reiterated-by-morgan-stanley.html
Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.10 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%. Analysts forecast that Ericsson will post $0.51 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ERIC. Sterling Capital Management LLC raised 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 valued at $110,000 after buying an additional 2,931 shares during the last quarter. OLD National Bancorp IN raised 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 valued at $120,000 after buying an additional 4,325 shares during the last quarter. Societe Generale acquired a new position in shares of Ericsson during the second quarter valued at about $133,000. SG Americas Securities LLC raised 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 valued at $133,000 after buying an additional 5,714 shares during the last quarter. Finally, Smithfield Trust Co. acquired a new position in shares of Ericsson during the second quarter valued at about $136,000. Institutional investors and hedge funds own 7.29% of the company’s stock.
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.
Receive News & Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.