Telefonaktiebolaget LM Ericsson (ERIC) Downgraded by BidaskClub

BidaskClub downgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a sell rating to a strong sell rating in a research note released on Friday morning.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity dropped their price objective on Telefonaktiebolaget LM Ericsson from $5.75 to $5.25 and set a hold rating on the stock in a research note on Monday, October 23rd. ValuEngine upgraded Telefonaktiebolaget LM Ericsson from a sell rating to a hold rating in a research note on Saturday, October 21st. BMO Capital Markets restated a hold rating and issued a $6.00 price target on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, October 20th. Danske cut Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a research note on Thursday, August 31st. Finally, Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a strong sell rating to a hold rating in a research note on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $5.59.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) opened at $6.68 on Friday. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.52 and a 12-month high of $7.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.72. The firm has a market capitalization of $22,272.12, a P/E ratio of -10.95 and a beta of 1.10.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly 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). Telefonaktiebolaget LM 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 analyst estimates of $47.21 billion. During the same period last year, the company earned $0.34 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post -0.13 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in ERIC. Hotchkis & Wiley Capital Management LLC raised its position in Telefonaktiebolaget LM Ericsson by 24.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 114,238,889 shares of the communications equipment provider’s stock valued at $656,874,000 after purchasing an additional 22,573,761 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Telefonaktiebolaget LM Ericsson in the third quarter valued at about $46,707,000. Westfield Capital Management Co. LP bought a new position in Telefonaktiebolaget LM Ericsson in the second quarter valued at about $15,331,000. Folketrygdfondet raised its position in Telefonaktiebolaget LM Ericsson by 23.7% in the third quarter. Folketrygdfondet now owns 10,432,504 shares of the communications equipment provider’s stock valued at $59,987,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Telefonaktiebolaget LM Ericsson by 264,310.8% in the second quarter. JPMorgan Chase & Co. now owns 1,396,089 shares of the communications equipment provider’s stock valued at $10,011,000 after purchasing an additional 1,395,561 shares during the last quarter. 8.07% of the stock is currently owned by institutional investors and hedge funds.

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Telefonaktiebolaget LM 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 Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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