Ericsson (ERIC) Receives Consensus Rating of “Hold” from Analysts
Shares of Ericsson (NASDAQ:ERIC) have earned an average rating of “Hold” from the twenty-two research firms that are covering the firm. Three investment analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.32.
A number of equities analysts have issued reports on the company. Vetr cut Ericsson from a “hold” rating to a “sell” rating and set a $7.64 target price on the stock. in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. upgraded Ericsson from a “sell” rating to a “neutral” rating in a report on Tuesday, June 21st. Zacks Investment Research upgraded Ericsson from a “sell” rating to a “hold” rating in a report on Monday, June 20th. BMO Capital Markets restated a “hold” rating and set a $8.00 target price on shares of Ericsson in a report on Monday, July 18th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Ericsson in a research report on Tuesday, July 26th.
Shares of Ericsson (NASDAQ:ERIC) traded down 2.613% during trading on Thursday, hitting $5.405. The stock had a trading volume of 18,565,524 shares. The firm has a 50 day moving average of $6.99 and a 200 day moving average of $7.74. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 11.214 and a beta of 0.92. Ericsson has a 1-year low of $5.39 and a 1-year high of $10.58.
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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 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 expect that Ericsson will post $0.51 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Genesee Valley Trust Co. increased its position in shares of Ericsson by 2.9% in the third quarter. Genesee Valley Trust Co. now owns 36,455 shares of the company’s stock valued at $263,000 after buying an additional 1,023 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Ericsson by 1.0% in the third quarter. Capstone Asset Management Co. now owns 270,597 shares of the company’s stock valued at $1,951,000 after buying an additional 2,790 shares in the last quarter. Telemus Capital LLC boosted its position in shares of Ericsson by 6.1% in the third quarter. Telemus Capital LLC now owns 26,638 shares of the company’s stock valued at $192,000 after buying an additional 1,525 shares in the last quarter. Sterling Capital Management LLC boosted 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 in the last quarter. Finally, FDx Advisors Inc. boosted its position in shares of Ericsson by 4.1% in the second quarter. FDx Advisors Inc. now owns 42,388 shares of the company’s stock valued at $326,000 after buying an additional 1,671 shares in the last quarter. 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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