Ericsson (ERIC) Stock Rating Reaffirmed by BNP Paribas
Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reiterated by equities research analysts at BNP Paribas in a research note issued on Saturday.
Several other analysts have also recently weighed in on ERIC. Zacks Investment Research upgraded Ericsson from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Goldman Sachs Group Inc. upgraded Ericsson from a “sell” rating to a “neutral” rating in a report on Tuesday, June 21st. Vetr cut Ericsson from a “hold” rating to a “sell” rating and set a $7.64 price target on the stock. in a report on Wednesday, June 22nd. Barclays PLC upgraded Ericsson from an “underweight” rating to an “equal weight” rating in a report on Wednesday, July 6th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $8.00 target price on shares of Ericsson in a report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Ericsson has an average rating of “Hold” and a consensus target price of $8.21.
Shares of Ericsson (NASDAQ:ERIC) traded down 0.18% during mid-day trading on Friday, reaching $5.43. 23,886,991 shares of the company’s stock traded hands. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 11.27 and a beta of 0.92. Ericsson has a 12 month low of $5.35 and a 12 month high of $10.56. The company has a 50 day moving average of $6.87 and a 200 day moving average of $7.69.
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Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share 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%. Analysts expect that Ericsson will post $0.51 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. TD Asset Management Inc. raised its position in shares of Ericsson by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 92,752 shares of the company’s stock worth $1,049,000 after buying an additional 237 shares during the last quarter. Rhumbline Advisers raised its stake in Ericsson by 0.9% in the second quarter. Rhumbline Advisers now owns 34,279 shares of the company’s stock worth $263,000 after buying an additional 289 shares during the last quarter. Genesee Valley Trust Co. raised its stake in Ericsson by 2.9% in the third quarter. Genesee Valley Trust Co. now owns 36,455 shares of the company’s stock worth $263,000 after buying an additional 1,023 shares during the last quarter. Timber Hill LLC raised its stake in Ericsson by 4.5% in the second quarter. Timber Hill LLC now owns 24,244 shares of the company’s stock worth $186,000 after buying an additional 1,045 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Ericsson by 4.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 26,876 shares of the company’s stock worth $270,000 after buying an additional 1,148 shares during the last quarter. 7.29% of the stock is currently owned by institutional investors.
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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