Trade Report: The Ericsson’s (ERIC) Market Perform Rating Reaffirmed at BMO Capital Markets

The Ericsson’s (ERIC) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Ericsson (NASDAQ:ERIC) in a research report sent to investors on Thursday. They currently have a $7.00 target price on the stock.

Several other equities research analysts have also recently weighed in on ERIC. Vetr raised Ericsson from a buy rating to a strong-buy rating in a research report on Monday, August 29th. Morgan Stanley reissued a neutral rating on shares of Ericsson in a research report on Monday. Zacks Investment Research raised Ericsson from a sell rating to a hold rating in a research report on Tuesday, September 13th. BNP Paribas reissued a hold rating on shares of Ericsson in a research report on Wednesday, September 28th. Finally, Barclays PLC raised Ericsson from an underweight rating to an equal weight rating in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $8.32.

Ericsson (NASDAQ:ERIC) traded up 0.092% during mid-day trading on Thursday, reaching $5.445. 11,150,591 shares of the company’s stock traded hands. Ericsson has a 12 month low of $5.35 and a 12 month high of $10.58. The firm’s 50-day moving average price is $6.93 and its 200 day moving average price is $7.72. The stock has a market capitalization of $17.76 billion, a PE ratio of 11.297 and a beta of 0.92.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%. Equities research analysts predict that Ericsson will post $0.51 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of 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 raised its stake in shares of 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 purchased a new stake in shares of Ericsson during the second quarter worth approximately $133,000. SG Americas Securities LLC raised its stake in shares of 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. purchased a new stake in shares of Ericsson during the second quarter worth approximately $136,000. Hedge funds and other institutional investors own 7.29% of the company’s stock.

Ericsson Company Profile

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