Ericsson (ERIC) Sees Unusually-High Trading Volume
Shares of Ericsson (NASDAQ:ERIC) saw unusually-high trading volume on Monday . Approximately 4,671,318 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 3,983,387 shares.The stock last traded at $7.31 and had previously closed at $7.36.
ERIC has been the topic of a number of research analyst reports. Bank of America Corp. restated a “hold” rating on shares of Ericsson in a research note on Tuesday, July 26th. Vetr upgraded Ericsson from a “sell” rating to a “strong-buy” rating in a research note on Friday, June 24th. Zacks Investment Research upgraded Ericsson from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Morgan Stanley restated a “neutral” rating on shares of Ericsson in a research note on Friday, August 12th. Finally, Goldman Sachs Group Inc. upgraded Ericsson from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Ericsson has a consensus rating of “Hold” and an average price target of $8.49.
The firm has a market cap of $23.91 billion and a price-to-earnings ratio of 14.72. The firm’s 50 day moving average is $7.42 and its 200-day moving average is $8.26.
Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data 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. On average, equities research analysts predict that Ericsson will post $0.52 EPS for the current fiscal 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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