Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.93.
Several research firms recently commented on ERIC. Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Canaccord Genuity restated a “neutral – hold” rating and issued a $7.00 price target on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, June 30th. Citigroup Inc. began coverage on shares of Telefonaktiebolaget LM Ericsson in a research note on Thursday, June 8th. They issued a “buy” rating on the stock. Societe Generale began coverage on shares of Telefonaktiebolaget LM Ericsson in a research note on Wednesday, June 14th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets restated a “market perform” rating on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, March 17th.
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Large investors have recently made changes to their positions in the company. OLD National Bancorp IN increased its stake in shares of Telefonaktiebolaget LM Ericsson by 8.1% in the first quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,181 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $106,000. Mackenzie Financial Corp purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $109,000. Quantum Capital Management purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $112,000. Finally, Boyd Watterson Asset Management LLC OH increased its stake in shares of Telefonaktiebolaget LM Ericsson by 1.0% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock worth $130,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 8.08% of the company’s stock.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded up 0.54% during trading on Monday, hitting $7.43. 3,048,019 shares of the stock were exchanged. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.83 and a 52 week high of $7.89.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, April 25th. The communications equipment provider reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.30. Telefonaktiebolaget LM Ericsson had a negative net margin of 23.41% and a negative return on equity of 32.87%. The business had revenue of $46.40 billion during the quarter, compared to analyst estimates of $47.36 billion. During the same quarter last year, the company posted $0.87 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. On average, analysts predict that Telefonaktiebolaget LM Ericsson will post $0.30 EPS for the current year.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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