Ericsson Telephone Rises On Unusually High Volume (ERIC)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Ericsson Telephone Company (Nasdaq: ERIC) is trading at unusually high volume Friday with 9.2 million shares changing hands. It is currently at 2.4 times its average daily volume and trading up 22 cents (+2.1%) at $10.54 as of 2:46 p.m. ET.

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Ericsson Telephone has a market cap of $33.84 billion and is part of the technology sector and telecommunications industry. Shares are up 1.4% year to date as of the close of trading on Thursday.

Ericsson provides communications equipment, professional services, and multimedia solutions to mobile and fixed networks operators worldwide. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Ericsson Telephone as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. You can view the full Ericsson Telephone Ratings Report.

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