Ericsson ERIC was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $53.13–$64.89 in the past one-month time frame, witnessed a sharp increase yesterday.
The stock gained after the company's top line surpassed analyst estimates in third-quarter 2019. The company also revised up its sales outlook for 2020.
The company has seen a mixed track record when it comes to estimate revisions of no increase and two decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Ericsson currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Ericsson price | Ericsson Quote
Investors interested in the Wireless Equipment industry may consider Nokia Corporation NOK, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is ERIC going up? Or down? Predict to see what others think: Up or Down
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ericsson (ERIC) : Free Stock Analysis Report
Nokia Corporation (NOK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research