Ericsson (NASDAQ:ERIC) – Analysts at Credit Agricole SA lowered their Q4 2016 earnings per share (EPS) estimates for shares of Ericsson in a research report issued to clients and investors on Thursday. Credit Agricole SA analyst A. Silver now anticipates that the brokerage will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.21. Credit Agricole SA also issued estimates for Ericsson’s Q1 2017 earnings at $0.05 EPS, Q2 2017 earnings at $0.08 EPS, Q3 2017 earnings at $0.09 EPS and Q4 2017 earnings at $0.16 EPS.

Several other equities analysts have also recently weighed in on ERIC. BMO Capital Markets reiterated a “hold” rating and set a $8.00 price objective on shares of Ericsson in a report on Monday, July 18th. Canaccord Genuity reissued a “hold” rating and issued a $5.50 target price (down previously from $7.00) on shares of Ericsson in a research report on Thursday. Charter Equity lowered Ericsson from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 20th. Vetr lowered Ericsson from a “hold” rating to a “sell” rating and set a $7.64 price target on the stock. in a research report on Wednesday, June 22nd. Finally, Argus reaffirmed a “hold” rating on shares of Ericsson in a research report on Thursday. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.32.

Earnings History and Estimates for Ericsson (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) traded up 0.092% during trading on Friday, reaching $5.445. The company had a trading volume of 17,867,726 shares. The company has a market capitalization of $17.76 billion, a PE ratio of 11.297 and a beta of 0.92. The company has a 50 day moving average price of $6.93 and a 200 day moving average price of $7.72. Ericsson has a 52-week low of $5.35 and a 52-week high of $10.58.

Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%.

Several hedge funds have recently added to or reduced their stakes in ERIC. Sterling Capital Management LLC increased its stake in shares of Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock valued at $110,000 after buying an additional 2,931 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of Ericsson by 38.2% in the second quarter. OLD National Bancorp IN now owns 15,638 shares of the company’s stock valued at $120,000 after buying an additional 4,325 shares in the last quarter. Societe Generale acquired a new stake in shares of Ericsson during the second quarter valued at $133,000. SG Americas Securities LLC increased its stake in shares of Ericsson by 49.1% in the second quarter. SG Americas Securities LLC now owns 17,344 shares of the company’s stock valued at $133,000 after buying an additional 5,714 shares in the last quarter. Finally, Smithfield Trust Co. acquired a new stake in shares of Ericsson during the second quarter valued at $136,000. Hedge funds and other institutional investors own 7.29% of the company’s stock.

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.

5 Day Chart for NASDAQ:ERIC

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