The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is a huge mover today! About 5.16 million shares traded hands. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has declined 39.54% since March 10, 2016 and is downtrending. It has underperformed by 47.06% the S&P500.
The move comes after 6 months positive chart setup for the $14.71B company. It was reported on Oct, 13 by Barchart.com. We have $8.28 PT which if reached, will make NASDAQ:ERIC worth $7.36B more.
Analysts await Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to report earnings on October, 28. They expect $0.13 earnings per share, down 18.75% or $0.03 from last year’s $0.16 per share. ERIC’s profit will be $346.82M for 10.60 P/E if the $0.13 EPS becomes a reality. After $0.10 actual earnings per share 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. On Thursday, July 21 the stock rating was downgraded by UBS to “Neutral”. The firm earned “Neutral” rating on Thursday, April 21 by Bank of America. The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has “Underperform” rating given on Tuesday, December 1 by Credit Suisse. The rating was downgraded by Deutsche Bank on Friday, January 15 to “Hold”. On Friday, September 25 the stock rating was upgraded by Liberum Capital to “Buy”. The rating was upgraded by Barclays Capital on Wednesday, July 6 to “Equal Weight”. On Wednesday, July 20 the stock rating was downgraded by Charter Equity to “Mkt Underperform”. Swedbank downgraded Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) on Tuesday, May 3 to “Neutral” rating. The rating was upgraded by Credit Suisse to “Neutral” on Monday, September 26. Goldman Sachs upgraded the shares of ERIC in a report on Tuesday, June 21 to “Neutral” rating.
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 important recent Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) news were published by: Fool.com which released: “Why Telefonaktiebolaget LM Ericsson Stock Plunged Today” on October 12, 2016, also Investorplace.com published article titled: “Why Humana Inc (HUM), Fortinet Inc (FTNT) and Telefonaktiebolaget LM Ericsson …”, Livetradingnews.com published: “Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Heffx Trading Outlook” on October 12, 2016. More interesting news about Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was released by: Twst.com and their article: “Telefonaktiebolaget LM Ericsson: Ericsson announces preliminary Q3, 2016 earnings” with publication date: October 12, 2016.
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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