Ericsson (ERIC) Given Hold Rating at Argus
Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reissued by equities research analysts at Argus in a research note issued on Thursday.
Other research analysts have also recently issued reports about the stock. Barclays PLC raised shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Ericsson from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 target price on shares of Ericsson in a research note on Monday, July 18th. Bank of America Corp. reaffirmed a “hold” rating on shares of Ericsson in a research note on Tuesday, July 26th. Finally, Canaccord Genuity decreased their target price on shares of Ericsson from $8.50 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $8.32.
Ericsson (NASDAQ:ERIC) traded down 1.98% during mid-day trading on Thursday, hitting $5.44. 35,054,680 shares of the company were exchanged. The company’s 50-day moving average is $6.93 and its 200 day moving average is $7.72. Ericsson has a 12-month low of $5.35 and a 12-month high of $10.58. The company has a market capitalization of $17.74 billion, a P/E ratio of 11.29 and a beta of 0.92.
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Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share (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%. Analysts expect that Ericsson will post $0.51 EPS for the current year.
A number of institutional investors have recently modified their holdings of ERIC. Sterling Capital Management LLC increased 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 period. OLD National Bancorp IN increased 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 period. Societe Generale acquired a new position in shares of Ericsson during the second quarter valued at $133,000. SG Americas Securities LLC increased 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 period. Finally, Smithfield Trust Co. acquired a new position in shares of Ericsson during the second quarter valued at $136,000. Institutional investors 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.
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