Argus Reiterates “Hold” Rating for Ericsson (ERIC)
Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating restated by analysts at Argus in a research report issued to clients and investors on Thursday.
Other research analysts have also issued research reports about the company. Barclays PLC upgraded Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Zacks Investment Research upgraded Ericsson from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. BMO Capital Markets restated a “hold” rating and set a $8.00 price objective on shares of Ericsson in a research report on Monday, July 18th. Bank of America Corp. restated a “hold” rating on shares of Ericsson in a research report on Tuesday, July 26th. Finally, Canaccord Genuity dropped their price target on Ericsson from $8.50 to $7.00 and set a “hold” rating for the company in a research report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Ericsson has a consensus rating of “Hold” and a consensus target price of $8.32.
Shares of Ericsson (NASDAQ:ERIC) traded down 1.98% during mid-day trading on Thursday, hitting $5.44. The company had a trading volume of 35,054,680 shares. The company’s 50-day moving average is $6.93 and its 200 day moving average is $7.72. Ericsson has a one year low of $5.35 and a one year high of $10.58. The company has a market capitalization of $17.74 billion, a PE ratio of 11.29 and a beta of 0.92.
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/2016/10/13/argus-reiterates-hold-rating-for-ericsson-eric.html
Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%. On average, equities research analysts forecast that Ericsson will post $0.51 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ERIC. Hotchkis & Wiley Capital Management LLC increased its stake in Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock valued at $314,724,000 after buying an additional 12,562,156 shares in the last quarter. Primecap Management Co. CA increased its stake in Ericsson by 4.6% in the first quarter. Primecap Management Co. CA now owns 78,258,204 shares of the company’s stock valued at $784,930,000 after buying an additional 3,465,300 shares in the last quarter. Brandes Investment Partners LP increased its stake in Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock valued at $79,327,000 after buying an additional 2,541,781 shares in the last quarter. Symons Capital Management Inc. acquired a new stake in Ericsson during the second quarter valued at about $15,018,000. Finally, Cambiar Investors LLC increased its stake in Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock valued at $138,429,000 after buying an additional 1,746,391 shares in the last quarter. Institutional investors own 7.29% of the company’s stock.
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.