Brokerage firm UBS Downgrades its rating on Ericsson (ADR)(NASDAQ:ERIC). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by UBS was issued on Jul 21, 2016.
In a different note, On Jul 6, 2016, Barclays said it Upgrades its rating on Ericsson (ADR). The shares have been rated ‘Equal Weight’ by the firm. On Jun 21, 2016, Goldman Sachs said it Upgrades its rating on Ericsson (ADR). The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Swedbank said it Downgrades its rating on Ericsson (ADR). The shares have been rated ‘Neutral’ by the firm.
Ericsson (ADR) (ERIC) made into the market gainers list on Wednesdays trading session with the shares advancing 3.25% or 0.23 points. Due to strong positive momentum, the stock ended at $7.31, which is also near the day’s high of $7.31. The stock began the session at $7.19 and the volume stood at 61,44,169 shares. The 52-week high of the shares is $11.08 and the 52 week low is $6.96. The company has a current market capitalization of $23,823 M and it has 3,25,90,00,000 shares in outstanding.
Ericsson (ADR)(ERIC) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $6.26B. Analysts had an estimated revenue of $6.53B. 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.