Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Friday, Analyst Ratings Network reports. They currently have a $13.00 target price on the stock.
Zacks‘ analyst wrote, “We are reaffirming our Neutral recommendation for Ericsson with a target price of $13. High demand for wireless devices supports Ericsson’s overall growth in the industry. In the last reported quarter, Ericsson reported revenue growth across all operating segments. The Telcordia acquisition also started reaping benefits for the company by generating about $0.9 billion in revenue. Moreover, Ericsson s earnest attempt to reduce cost is reflected in the company s reduced SG&A expenses. However, currency fluctuations and cost inflation are issues that greatly concern us. “
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) traded up 0.66% on Friday, hitting $12.15. Telefonaktiebolaget LM Ericsson has a 52-week low of $8.23 and a 52-week high of $13.46. The stock’s 50-day moving average is currently $12.42. The company’s market cap is $39.147 billion.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.06. The company had revenue of $52.00 billion for the quarter, compared to the consensus estimate of $53.05 billion. During the same quarter last year, the company posted $0.77 earnings per share. Telefonaktiebolaget LM Ericsson’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post $0.78 earnings per share for the current fiscal year.
ERIC has been the subject of a number of other recent research reports. Analysts at Danske downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Societe Generale downgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research note to investors on Monday. Finally, analysts at RBC Capital downgraded shares of Telefonaktiebolaget LM Ericsson from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday, April 2nd. They now have a $14.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.00.
Telefonaktiebolaget LM Ericsson is a Sweden-based communications technology company. The Company is engaged in the provision of communications infrastructure, services and multimedia solutions.
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