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Ericsson (ERIC) Catches Eye: Stock Jumps 5.2%

Zacks Equity Research

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 Price

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.

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