Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reaffirmed by BNP Paribas in a research note issued on Wednesday.
A number of other research firms also recently commented on ERIC. BMO Capital Markets reissued a “hold” rating and issued a $7.00 target price on shares of Ericsson in a report on Monday, July 25th. Credit Suisse Group AG raised Ericsson from an “underperform” rating to a “neutral” rating in a report on Monday. Vetr downgraded Ericsson from a “buy” rating to a “hold” rating and set a $7.69 target price for the company. in a report on Monday, June 6th. Zacks Investment Research raised Ericsson from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Finally, Goldman Sachs Group Inc. raised Ericsson from a “sell” rating to a “neutral” rating in a report on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.49.
Shares of Ericsson (NASDAQ:ERIC) opened at 6.81 on Wednesday. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 14.07 and a beta of 1.01. The company’s 50-day moving average is $7.12 and its 200-day moving average is $7.93. Ericsson has a one year low of $6.68 and a one year high of $10.58.
Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, July 19th. The company reported $0.10 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%. On average, equities analysts predict that Ericsson will post $0.51 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its stake in Ericsson by 4.6% in the first quarter. Primecap Management Co. CA now owns 78,258,204 shares of the company’s stock valued at $784,930,000 after buying an additional 3,465,300 shares during the period. UBS Group AG boosted its stake in shares of Ericsson by 15.6% in the first quarter. UBS Group AG now owns 330,870 shares of the company’s stock worth $3,318,000 after buying an additional 44,647 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Ericsson by 19.0% in the first quarter. BB&T Securities LLC now owns 68,977 shares of the company’s stock worth $691,000 after buying an additional 10,996 shares during the last quarter. Folketrygdfondet boosted its stake in shares of Ericsson by 4.2% in the first quarter. Folketrygdfondet now owns 7,443,161 shares of the company’s stock worth $74,655,000 after buying an additional 300,000 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Ericsson by 8.4% in the first quarter. M&T Bank Corp now owns 255,524 shares of the company’s stock worth $2,562,000 after buying an additional 19,868 shares during the last quarter. Institutional investors own 7.29% of the company’s stock.
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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