Ericsson (ERIC) Stock Rating Reaffirmed by Argus
Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reaffirmed by stock analysts at Argus in a research report issued to clients and investors on Thursday.
Other research analysts have also recently issued research reports about the stock. BMO Capital Markets restated a “hold” rating and issued a $8.00 price objective on shares of Ericsson in a research report on Monday, July 18th. Canaccord Genuity restated a “hold” rating and issued a $5.50 price objective (down previously from $7.00) on shares of Ericsson in a research report on Thursday. Charter Equity cut shares of Ericsson from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 20th. Vetr cut shares of Ericsson from a “hold” rating to a “sell” rating and set a $7.64 price objective for the company. in a research report on Wednesday, June 22nd. Finally, Barclays PLC upgraded shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Ericsson currently has a consensus rating of “Hold” and an average price target of $8.21.
Shares of Ericsson (NASDAQ:ERIC) opened at 5.43 on Thursday. The stock has a 50 day moving average price of $6.87 and a 200-day moving average price of $7.69. The stock 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.
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 consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. Equities analysts anticipate that Ericsson will post $0.51 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ERIC. Sterling Capital Management LLC raised 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 worth $110,000 after buying an additional 2,931 shares during the last quarter. OLD National Bancorp IN raised 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 worth $120,000 after buying an additional 4,325 shares during the last quarter. Societe Generale bought a new position in shares of Ericsson during the second quarter worth $133,000. SG Americas Securities LLC raised 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 worth $133,000 after buying an additional 5,714 shares during the last quarter. Finally, Smithfield Trust Co. bought a new position in shares of Ericsson during the second quarter worth $136,000. 7.29% of the stock is owned by hedge funds and other institutional investors.
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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