Ericsson’s (ERIC) Neutral Rating Reaffirmed at Morgan Stanley
Ericsson (NASDAQ:ERIC)‘s stock had its “neutral” rating reiterated by research analysts at Morgan Stanley in a research note issued to investors on Monday.
Several other research analysts have also recently issued reports on the stock. Vetr upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Monday, August 29th. Zacks Investment Research upgraded shares of Ericsson from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. BMO Capital Markets reiterated a “hold” rating and set a $8.00 target price on shares of Ericsson in a report on Monday, July 18th. BNP Paribas reiterated a “hold” rating on shares of Ericsson in a report on Wednesday, September 28th. Finally, Barclays PLC upgraded shares of Ericsson from an “underweight” rating to an “equal weight” rating in a report on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.49.
Shares of Ericsson (NASDAQ:ERIC) traded up 0.98% during midday trading on Monday, hitting $7.19. 1,380,293 shares of the stock were exchanged. Ericsson has a 12 month low of $6.68 and a 12 month high of $10.58. The stock has a market cap of $23.45 billion, a P/E ratio of 14.79 and a beta of 0.92. The firm has a 50 day moving average of $7.06 and a 200-day moving average 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 http://www.americanbankingnews.com/2016/10/10/ericssons-eric-neutral-rating-reaffirmed-at-morgan-stanley.html
Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. Equities research analysts anticipate that Ericsson will post $0.51 EPS for the current year.
A number of institutional investors have recently bought and sold shares of ERIC. Sterling Capital Management LLC raised its position in Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock worth $110,000 after buying an additional 2,931 shares in the last quarter. OLD National Bancorp IN raised its position in Ericsson by 38.2% in the second quarter. OLD National Bancorp IN now owns 15,638 shares of the company’s stock worth $120,000 after buying an additional 4,325 shares in the last quarter. Societe Generale acquired a new position in Ericsson during the second quarter worth about $133,000. SG Americas Securities LLC raised its position in Ericsson by 49.1% in the second quarter. SG Americas Securities LLC now owns 17,344 shares of the company’s stock worth $133,000 after buying an additional 5,714 shares in the last quarter. Finally, Smithfield Trust Co. acquired a new position in Ericsson during the second quarter worth about $136,000. 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.
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.