Trade Report: The Ericsson (ERIC) Stock Rating Reaffirmed by Morgan Stanley

The Ericsson (ERIC) Stock Rating Reaffirmed by Morgan Stanley

Ericsson (NASDAQ:ERIC)‘s stock had its “neutral” rating restated by equities research analysts at Morgan Stanley in a research report issued to clients and investors on Monday.

Several other research analysts have also recently issued reports on ERIC. BMO Capital Markets reaffirmed a “hold” rating and issued a $7.00 target price on shares of Ericsson in a report on Monday, July 25th. Zacks Investment Research raised shares of Ericsson from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Vetr raised shares of Ericsson from a “hold” rating to a “buy” rating and set a $7.69 target price for the company in a report on Monday, June 13th. Goldman Sachs Group Inc. raised shares of Ericsson from a “sell” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, Canaccord Genuity reduced their price target on shares of Ericsson from $8.50 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.49.

Shares of Ericsson (NASDAQ:ERIC) opened at 7.01 on Monday. Ericsson has a 12 month low of $6.68 and a 12 month high of $10.58. The company has a market capitalization of $22.86 billion, a P/E ratio of 14.54 and a beta of 0.92. The firm has a 50-day moving average of $7.05 and a 200-day moving average of $7.76.

Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) 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%. On average, equities analysts predict that Ericsson will post $0.51 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. raised its position in Ericsson by 71.3% in the first quarter. First Republic Investment Management Inc. now owns 499,360 shares of the company’s stock worth $5,009,000 after buying an additional 207,770 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in Ericsson during the first quarter worth $1,605,000. Envestnet Asset Management Inc. raised its position in Ericsson by 3.5% in the first quarter. Envestnet Asset Management Inc. now owns 659,396 shares of the company’s stock worth $6,614,000 after buying an additional 22,225 shares during the last quarter. Renaissance Technologies LLC raised its position in Ericsson by 123.3% in the first quarter. Renaissance Technologies LLC now owns 1,494,100 shares of the company’s stock worth $14,986,000 after buying an additional 825,131 shares during the last quarter. Finally, Chubb Ltd. purchased a new position in Ericsson during the first quarter worth $15,045,000. Institutional investors and hedge funds own 7.29% of the company’s stock.

Ericsson Company Profile

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