Ericsson (ERIC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ericsson (NASDAQ:ERIC) have earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.93.

A number of brokerages recently weighed in on ERIC. BidaskClub downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Canaccord Genuity lowered their target price on shares of Ericsson from $5.75 to $5.25 and set a “hold” rating for the company in a research note on Monday, October 23rd. BNP Paribas raised shares of Ericsson from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “strong sell” rating in a research note on Friday, October 6th.

Large investors have recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Ericsson by 113.3% during the first quarter. Morgan Stanley now owns 210,410 shares of the communications equipment provider’s stock worth $1,397,000 after acquiring an additional 111,753 shares in the last quarter. Folketrygdfondet increased its position in shares of Ericsson by 26.8% during the second quarter. Folketrygdfondet now owns 8,432,504 shares of the communications equipment provider’s stock worth $60,461,000 after acquiring an additional 1,780,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ericsson by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 96,675 shares of the communications equipment provider’s stock worth $693,000 after acquiring an additional 2,891 shares in the last quarter. Aperio Group LLC increased its position in shares of Ericsson by 5.9% during the second quarter. Aperio Group LLC now owns 1,142,005 shares of the communications equipment provider’s stock worth $8,188,000 after acquiring an additional 63,960 shares in the last quarter. Finally, Greenleaf Trust increased its position in shares of Ericsson by 2.6% during the second quarter. Greenleaf Trust now owns 31,146 shares of the communications equipment provider’s stock worth $223,000 after acquiring an additional 797 shares in the last quarter. 7.95% of the stock is owned by institutional investors.

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Ericsson (NASDAQ ERIC) opened at $6.01 on Friday. Ericsson has a 52 week low of $4.99 and a 52 week high of $7.47. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 0.24.

Ericsson (NASDAQ:ERIC) last announced its earnings results on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Ericsson had a negative return on equity of 5.67% and a negative net margin of 8.60%. The firm had revenue of $47.80 billion for the quarter, compared to the consensus estimate of $47.21 billion. During the same period in the prior year, the business earned $0.34 EPS. Ericsson’s quarterly revenue was down 6.5% on a year-over-year basis. sell-side analysts forecast that Ericsson will post -0.13 earnings per share for the current fiscal year.

Ericsson Company Profile

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.

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

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