Canaccord Genuity reiterated their hold rating on shares of Ericsson (NASDAQ:ERIC) in a report released on Thursday. They currently have a $5.50 target price on the stock, down from their prior target price of $7.00.
ERIC has been the topic of a number of other research reports. Vetr raised shares of Ericsson from a buy rating to a strong-buy rating in a report on Monday, August 29th. Morgan Stanley reissued a neutral rating on shares of Ericsson in a report on Monday, October 10th. Zacks Investment Research downgraded shares of Ericsson from a hold rating to a sell rating in a research report on Tuesday, September 20th. BMO Capital Markets restated a market perform rating and set a $7.00 target price on shares of Ericsson in a research report on Thursday, October 13th. Finally, Credit Suisse Group AG upgraded shares of Ericsson from an underperform rating to a neutral rating in a research report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.21.
Ericsson (NASDAQ:ERIC) opened at 5.47 on Thursday. The company’s 50-day moving average is $6.78 and its 200-day moving average is $7.61. Ericsson has a 12 month low of $5.35 and a 12 month high of $10.56. The stock has a market capitalization of $17.84 billion, a P/E ratio of 11.35 and a beta of 0.92.
Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data 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 return on equity of 13.14% and a net margin of 5.70%. Equities analysts anticipate that Ericsson will post $0.51 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its stake in 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 boosted its stake in 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 acquired a new stake in Ericsson during the second quarter worth about $133,000. SG Americas Securities LLC boosted its stake in 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. acquired a new stake in Ericsson during the second quarter worth about $136,000. Institutional investors and hedge funds 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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