Ericsson (ERIC) – Analysts’ Weekly Ratings Updates
A number of firms have modified their ratings and price targets on shares of Ericsson (NASDAQ: ERIC) recently:
- 10/13/2016 – Ericsson was downgraded by analysts at Natixis from a “buy” rating to a “neutral” rating.
- 10/10/2016 – Ericsson had its “neutral” rating reaffirmed by analysts at Morgan Stanley.
- 9/28/2016 – Ericsson had its “hold” rating reaffirmed by analysts at BNP Paribas.
- 9/26/2016 – Ericsson was upgraded by analysts at Credit Suisse Group AG from an “underperform” rating to a “neutral” rating.
- 9/20/2016 – Ericsson was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ericsson has had a choppy run so far – with two earnings misses, one beat and one quarter of in-line results – over the trailing four quarters. Soft emerging market conditions, completion of major projects in Europe and adverse currency translation have been hurting top-line performances over the past few quarters. During second-quarter 2016, weakening currencies across some of the major Latin America markets and floating of the Nigerian currency proved to be major dampeners. Also, budget cuts by telecom operators are denting the company’s performance as carriers across Europe, Russia and Brazil curtailed investments in wireless products. Moreover, escalating restructuring expenses may pose as significant headwinds ahead. However, on the positive side, a constant rise in demand for 4GLTE and dominant position in the TV & Media business are expected to drive growth.”
- 9/13/2016 – Ericsson was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Ericsson has had a choppy run so far – with two earnings misses, one beat and one quarter of in-line results – over the trailing four quarters. Soft emerging market conditions, completion of major projects and adverse currency translation add to the woes. Moreover, escalating restructuring expenses and spectrum crunch may pose as significant headwinds for the company, going forward. On the positive side, the company has prioritized three areas of growth, namely, core business, targeted investments and cost & efficiency. A constant rise in demand for 4GLTE is adding to the company’s strength. Also, Ericsson’s dominant position in the TV & Media business and steady growth in the OSS & BSS market hold promise. Moreover, Ericsson’s strengthening foothold in 5G technology is expected to benefit the company significantly with full-fledged commercialization in 2020.”
- 8/29/2016 – Ericsson was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating.
Shares of Ericsson (NASDAQ:ERIC) traded down 2.252% on Thursday, hitting $5.425. 9,901,986 shares of the stock traded hands. The company’s 50 day moving average is $6.99 and its 200 day moving average is $7.74. The stock has a market cap of $17.69 billion, a price-to-earnings ratio of 11.255 and a beta of 0.92. Ericsson has a one year low of $5.42 and a one year high of $10.58.
Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 analysts forecast that Ericsson will post $0.51 EPS for the current year.
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.
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