The stock of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) hit a new 52-week low and has $4.57 target or 8.00% below today’s $4.97 share price. The 8 months bearish chart indicates high risk for the $16.51 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $4.57 price target is reached, the company will be worth $1.32B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 8.30M shares traded hands. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has declined 51.65% since March 31, 2016 and is downtrending. It has underperformed by 54.17% the S&P500.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Ratings Coverage
Out of 16 analysts covering Ericsson (NASDAQ:ERIC), 4 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 25% are positive. Ericsson has been the topic of 21 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Deutsche Bank downgraded the shares of ERIC in a report on Friday, January 15 to “Hold” rating. The stock has “Neutral” rating given by Bank of America on Thursday, April 21. As per Thursday, August 27, the company rating was upgraded by Danske Bank. Credit Suisse downgraded Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) on Tuesday, December 1 to “Underperform” rating. The rating was downgraded by Charter Equity to “Mkt Underperform” on Wednesday, July 20. The rating was downgraded by Swedbank to “Neutral” on Tuesday, May 3. The rating was upgraded by Zacks to “Hold” on Wednesday, August 5. On Tuesday, April 12 the stock rating was initiated by CLSA with “Sell”. The firm has “Neutral” rating given on Monday, September 26 by Credit Suisse. The rating was downgraded by Goldman Sachs on Thursday, January 21 to “Sell”.
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: Fool.com which released: “Why Telefonaktiebolaget LM Ericsson Stock Plunged Today” on October 12, 2016. Also Investorplace.com published the news titled: “Why Skechers USA Inc (SKX), AT&T Inc. (T) and Telefonaktiebolaget LM Ericsson …” on October 21, 2016. Investorplace.com‘s news article titled: “Why Humana Inc (HUM), Fortinet Inc (FTNT) and Telefonaktiebolaget LM Ericsson …” with publication date: October 12, 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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