Brokerage firm Credit Suisse Upgrades its rating on Ericsson (ADR)(NASDAQ:ERIC). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Credit Suisse was issued on Sep 26, 2016.
In a different note, On Jul 21, 2016, UBS said it Downgrades its rating on Ericsson (ADR). The shares have been rated ‘Neutral’ by the firm. On Jul 20, 2016, Charter Equity said it Downgrades its rating on Ericsson (ADR). The shares have been rated ‘Underperform’ by the firm. On Jul 6, 2016, Barclays said it Upgrades its rating on Ericsson (ADR). The shares have been rated ‘Equal Weight’ by the firm.
Ericsson (ADR) (ERIC) made into the market gainers list on Thursdays trading session with the shares advancing 2.64% or 0.18 points. Due to strong positive momentum, the stock ended at $7, which is also near the day’s high of $7.05. The stock began the session at $7.03 and the volume stood at 44,97,335 shares. The 52-week high of the shares is $10.58 and the 52 week low is $6.68. The company has a current market capitalization of $22,995 M and it has 3,28,49,97,700 shares in outstanding.
Ericsson (ADR)(ERIC) last announced its earnings results on Jul 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.49B. Analysts had an estimated revenue of $6.75B. Earnings per share were $0.10. Analysts had estimated an EPS of $0.13.
Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services software and infrastructure for mobility broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks Global Services Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media and Industry and Society. Radio Core and Transmission as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS TV & Media report into Support Solutions segment while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.