BNP Paribas Reaffirms Hold Rating for Ericsson (ERIC)
Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reiterated by equities research analysts at BNP Paribas in a note issued to investors on Wednesday.
Several other research analysts also recently weighed in on the stock. Vetr upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 29th. Zacks Investment Research raised shares of Ericsson from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Morgan Stanley reissued a “neutral” rating on shares of Ericsson in a research note on Friday, August 12th. BMO Capital Markets reissued a “hold” rating and issued a $8.00 price objective on shares of Ericsson in a research note on Monday, July 18th. Finally, Barclays PLC raised shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Ericsson has an average rating of “Hold” and an average price target of $8.49.
Ericsson (NASDAQ:ERIC) opened at 6.81 on Wednesday. Ericsson has a 12 month low of $6.68 and a 12 month high of $10.58. The company has a 50-day moving average of $7.12 and a 200 day moving average of $7.93. The company has a market cap of $22.21 billion, a PE ratio of 14.07 and a beta of 1.01.
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%. On average, equities analysts forecast that Ericsson will post $0.51 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock valued at $110,000 after buying an additional 2,931 shares during the period. OLD National Bancorp IN raised its position in Ericsson by 38.2% in the second quarter. OLD National Bancorp IN now owns 15,638 shares of the company’s stock valued at $120,000 after buying an additional 4,325 shares during the period. Societe Generale acquired a new position in Ericsson during the second quarter valued at approximately $133,000. SG Americas Securities LLC raised its position in Ericsson by 49.1% in the second quarter. SG Americas Securities LLC now owns 17,344 shares of the company’s stock valued at $133,000 after buying an additional 5,714 shares during the period. Finally, Smithfield Trust Co. acquired a new position in Ericsson during the second quarter valued at approximately $136,000. Institutional investors and hedge funds own 7.29% of the company’s stock.
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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