Ericsson (NASDAQ:ERIC) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Ericsson's shares have surpassed their 200-day moving average, indicating positive momentum, with current trading around $8.09.
• Wall Street analysts have mixed views on the stock, with BNP Paribas maintaining an "underperform" rating while Wall Street Zen upgraded it to "strong-buy."
• Ericsson reported a net margin of 7.06% and earnings per share of $0.14 for the last quarter, exceeding estimates but showing a 6.2% revenue decline year-over-year.

Shares of Ericsson (NASDAQ:ERIC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.02 and traded as high as $8.14. Ericsson shares last traded at $8.09, with a volume of 10,344,313 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BNP Paribas reissued an "underperform" rating on shares of Ericsson in a research note on Wednesday, September 3rd. Wall Street Zen upgraded shares of Ericsson from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $9.80.

Ericsson Price Performance

The firm has a market capitalization of $27.09 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 12.92 and a beta of 0.87. The company's 50 day moving average is $7.69 and its 200-day moving average is $8.02. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35.

Ericsson (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $60.54 billion. Ericsson had a net margin of 7.06% and a return on equity of 21.17%. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the business posted ($3.34) earnings per share. Equities research analysts anticipate that Ericsson will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On Ericsson

Several hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its position in Ericsson by 57.2% during the second quarter. Neuberger Berman Group LLC now owns 20,485 shares of the communications equipment provider's stock worth $174,000 after acquiring an additional 7,452 shares during the last quarter. Lazard Asset Management LLC lifted its position in Ericsson by 197.2% during the second quarter. Lazard Asset Management LLC now owns 1,242,381 shares of the communications equipment provider's stock worth $10,534,000 after acquiring an additional 824,287 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Ericsson by 42.9% during the second quarter. BNP Paribas Financial Markets now owns 3,350,029 shares of the communications equipment provider's stock worth $28,408,000 after acquiring an additional 1,005,398 shares during the last quarter. Jump Financial LLC acquired a new stake in Ericsson during the second quarter worth approximately $17,461,000. Finally, Marshall Wace LLP acquired a new stake in Ericsson during the second quarter worth approximately $2,735,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.

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