BidaskClub Upgrades Telefonaktiebolaget LM Ericsson (ERIC) to Hold

BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a sell rating to a hold rating in a research note released on Wednesday, BidAskClub reports.

A number of other equities analysts have also issued reports on the company. ValuEngine lowered Telefonaktiebolaget LM Ericsson from a strong-buy rating to a buy rating in a research report on Saturday, May 4th. Cowen reaffirmed a hold rating and issued a $10.00 target price on shares of Telefonaktiebolaget LM Ericsson in a research report on Sunday, April 21st. Finally, Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a strong sell rating to a hold rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $9.77.

NASDAQ ERIC opened at $10.03 on Wednesday. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of 334.33 and a beta of 0.55. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $7.16 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.32 and a quick ratio of 1.05.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. Telefonaktiebolaget LM Ericsson had a positive return on equity of 3.79% and a negative net margin of 1.46%. The firm had revenue of $48.90 billion during the quarter, compared to analysts’ expectations of $48.35 billion. During the same quarter in the prior year, the business earned $0.11 EPS. Telefonaktiebolaget LM Ericsson’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Prescott Group Capital Management L.L.C. raised its position in shares of Telefonaktiebolaget LM Ericsson by 29.9% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 130,300 shares of the communications equipment provider’s stock valued at $1,156,000 after purchasing an additional 30,000 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter valued at approximately $2,593,000. Advisors Asset Management Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter valued at approximately $42,000. Raymond James & Associates raised its position in shares of Telefonaktiebolaget LM Ericsson by 24.9% during the 4th quarter. Raymond James & Associates now owns 101,889 shares of the communications equipment provider’s stock valued at $904,000 after acquiring an additional 20,320 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Telefonaktiebolaget LM Ericsson by 65.2% during the 4th quarter. Bank of America Corp DE now owns 2,318,920 shares of the communications equipment provider’s stock valued at $20,568,000 after acquiring an additional 915,047 shares in the last quarter. 8.01% of the stock is currently owned by institutional investors.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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