The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is a huge mover today! About 34.74 million shares traded hands or 770.68% up from the average. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has declined 24.22% since March 9, 2016 and is downtrending. It has underperformed by 31.63% the S&P500.
The move comes after 8 months negative chart setup for the $18.55 billion company. It was reported on Oct, 12 by Barchart.com. We have $5.10 PT which if reached, will make NASDAQ:ERIC worth $1.67 billion less.
Analysts await Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to report earnings on October, 28. They expect $0.13 EPS, down 18.75% or $0.03 from last year’s $0.16 per share. ERIC’s profit will be $430.63 million for 10.77 P/E if the $0.13 EPS becomes a reality. After $0.10 actual EPS reported by Telefonaktiebolaget LM Ericsson for the previous quarter, Wall Street now forecasts 30.00% EPS growth.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Ratings Coverage
Out of 15 analysts covering Ericsson (NASDAQ:ERIC), 4 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 27% are positive. Ericsson has been the topic of 20 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, July 21, the company rating was downgraded by UBS. The firm earned “Underperform” rating on Tuesday, December 1 by Credit Suisse. Charter Equity downgraded the stock to “Mkt Underperform” rating in Wednesday, July 20 report. The company was upgraded on Tuesday, June 21 by Goldman Sachs. The firm has “Neutral” rating given on Thursday, April 21 by Bank of America. The stock has “Buy” rating given by Liberum Capital on Friday, September 25. Deutsche Bank downgraded the stock to “Hold” rating in Friday, January 15 report. The stock has “Equal Weight” rating given by Barclays Capital on Wednesday, July 6. On Thursday, January 21 the stock rating was downgraded by Goldman Sachs to “Sell”. Wells Fargo initiated the stock with “Market Perform” rating in Friday, March 11 report.
According to Zacks Investment Research, “Ericsson is a world-leading supplier in the fast-growing and dynamic telecommunications and data communications industry, offering advanced communications solutions for mobile and fixed networks, as well as consumer products. The company is a total solutions supplier for all customer segments: network operators and service providers, enterprises and consumers. The company has the world’s largest customer base in the telecommunications field.”
More recent Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) news were published by: Livetradingnews.com which released: “Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Heffx Trading Outlook” on October 12, 2016. Also Twst.com published the news titled: “Telefonaktiebolaget LM Ericsson: Ericsson announces preliminary Q3, 2016 earnings” on October 12, 2016. Twst.com‘s news article titled: “Telefonaktiebolaget LM Ericsson: Orange and Ericsson partner for 5G” with publication date: October 06, 2016 was also an interesting one.
ERIC Company Profile
Telefonaktiebolaget LM Ericsson (Ericsson) is a global telecommunications operator. The Firm 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. Ericsson operates through three business divisions: Networks, Global Services and Support Solutions. The Firm has clients in over 180 countries. The Company’s targeted areas include business support systems (OSS) and business support systems (BSS); industry and society; television and media, and Internet protocol (IP) and cloud. The Firm operates in various geographical areas, including North America, Latin America, Northern Europe and Central Asia, Western and Central Europe, Mediterranean, Middle East, Sub-Saharan Africa, India, North East Asia, South East Asia and Oceania, and others.
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