Natixis Lowers Ericsson (ERIC) to Neutral
Ericsson (NASDAQ:ERIC) was downgraded by investment analysts at Natixis from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.
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 report on Monday, August 29th. Morgan Stanley reiterated a “neutral” rating on shares of Ericsson in a report on Monday. Zacks Investment Research upgraded shares of Ericsson from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. BMO Capital Markets reiterated a “hold” rating and issued a $8.00 target price on shares of Ericsson in a report on Monday, July 18th. Finally, BNP Paribas reiterated a “hold” rating on shares of Ericsson in a report on Wednesday, September 28th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $8.49.
Shares of Ericsson (NASDAQ:ERIC) opened at 5.55 on Thursday. The firm has a market cap of $18.10 billion, a PE ratio of 11.51 and a beta of 0.92. Ericsson has a 52 week low of $5.54 and a 52 week high of $10.58. The firm has a 50-day moving average of $6.99 and a 200 day moving average of $7.74.
Ericsson (NASDAQ:ERIC) last released 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. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. Equities research analysts predict that Ericsson will post $0.51 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Cambiar Investors LLC increased its stake in shares of Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock worth $138,429,000 after buying an additional 1,746,391 shares during the last quarter. Telemus Capital LLC increased its stake in shares of Ericsson by 16.9% in the second quarter. Telemus Capital LLC now owns 25,113 shares of the company’s stock worth $193,000 after buying an additional 3,636 shares during the last quarter. Princeton Alpha Management LP purchased a new stake in shares of Ericsson during the second quarter worth about $425,000. Fox Run Management L.L.C. purchased a new stake in shares of Ericsson during the second quarter worth about $190,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Ericsson during the second quarter worth about $856,000. Hedge funds and other 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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