Ericsson (ADR) (ERIC) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Apr 21, 2016.
Many Wall Street Analysts have commented on Ericsson (ADR). Ericsson (ADR) was Initiated by Credit Agricole to “Sell” on Apr 12, 2016. Ericsson (ADR) was Initiated by Wells Fargo to “Market Perform” on Mar 11, 2016.
On the company’s financial health, Ericsson (ADR) reported $0.87 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $1.06. The company had revenue of $52200.00 million for the quarter, compared to analysts expectations of $54145.60 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.77 EPS.
Ericsson (ADR) opened for trading at $9.59 and hit $9.65 on the upside on Monday, eventually ending the session at $9.65, with a gain of 0.21% or 0.02 points. The heightened volatility saw the trading volume jump to 40,08,366 shares. Company has a market cap of $31,894 M.
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.