ValuEngine lowered shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to a hold rating in a research note issued to investors on Tuesday, May 29th.
ERIC has been the topic of a number of other reports. BMO Capital Markets restated a hold rating on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, April 20th. Bank of America cut shares of Telefonaktiebolaget LM Ericsson from a buy rating to an underperform rating in a report on Monday, February 5th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a strong sell rating to a sell rating in a report on Tuesday, February 13th. Zacks Investment Research upgraded shares of Telefonaktiebolaget LM Ericsson from a sell rating to a hold rating in a report on Tuesday, March 20th. Finally, Berenberg Bank assumed coverage on shares of Telefonaktiebolaget LM Ericsson in a report on Wednesday, April 11th. They issued a hold rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Telefonaktiebolaget LM Ericsson currently has an average rating of Hold and a consensus target price of $5.91.
NASDAQ ERIC opened at $7.79 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $24.27 billion, a price-to-earnings ratio of -16.57 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a one year low of $5.52 and a one year high of $8.05.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Friday, April 20th. The communications equipment provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Telefonaktiebolaget LM Ericsson had a negative net margin of 12.75% and a negative return on equity of 4.58%. The business had revenue of $43.40 billion for the quarter, compared to analysts’ expectations of $43.59 billion. During the same period last year, the business earned ($2.42) EPS. The company’s revenue was down 9.2% compared to the same quarter last year. equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.17 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. boosted its stake in Telefonaktiebolaget LM Ericsson by 79.0% in the 4th quarter. Eqis Capital Management Inc. now owns 142,488 shares of the communications equipment provider’s stock worth $952,000 after purchasing an additional 62,864 shares in the last quarter. James Hambro & Partners acquired a new stake in Telefonaktiebolaget LM Ericsson in the 4th quarter worth approximately $157,000. Investors Research Corp acquired a new stake in Telefonaktiebolaget LM Ericsson in the 4th quarter worth approximately $398,000. Arrowstreet Capital Limited Partnership acquired a new stake in Telefonaktiebolaget LM Ericsson in the 4th quarter worth approximately $5,601,000. Finally, Virtu Financial LLC boosted its stake in Telefonaktiebolaget LM Ericsson by 133.1% in the 4th quarter. Virtu Financial LLC now owns 86,328 shares of the communications equipment provider’s stock worth $577,000 after purchasing an additional 49,291 shares in the last quarter. Institutional investors own 8.70% of the company’s stock.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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