Ericsson (NASDAQ:ERIC)‘s stock had its “market perform” rating restated by research analysts at Cowen and Company in a research report issued to clients and investors on Saturday. They presently have a $6.00 price target on the stock. Cowen and Company’s price target would indicate a potential upside of 10.50% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets reiterated a “hold” rating and set a $8.00 target price on shares of Ericsson in a research note on Monday, July 18th. Canaccord Genuity reiterated a “hold” rating and set a $5.50 target price (down from $7.00) on shares of Ericsson in a research note on Thursday. Charter Equity lowered shares of Ericsson from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 20th. Vetr lowered shares of Ericsson from a “hold” rating to a “sell” rating and set a $7.64 target price for the company. in a research note on Wednesday, June 22nd. Finally, Barclays PLC upgraded shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.21.

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

Ericsson (NASDAQ:ERIC) opened at 5.43 on Friday. The stock has a 50 day moving average price of $6.87 and a 200-day moving average price of $7.69. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 11.27 and a beta of 0.92. Ericsson has a 12-month low of $5.35 and a 12-month high of $10.56.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share 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%. Equities analysts predict that Ericsson will post $0.51 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in shares of Ericsson by 4.1% in the second quarter. Primecap Management Co. CA now owns 81,505,704 shares of the company’s stock valued at $625,964,000 after buying an additional 3,247,500 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock valued at $314,724,000 after buying an additional 12,562,156 shares in the last quarter. Cambiar Investors LLC boosted its stake in shares of Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock valued at $138,429,000 after buying an additional 1,746,391 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock valued at $79,327,000 after buying an additional 2,541,781 shares in the last quarter. Finally, Dodge & Cox boosted its stake in shares of Ericsson by 3.3% in the second quarter. Dodge & Cox now owns 2,216,336 shares of the company’s stock valued at $17,021,000 after buying an additional 70,150 shares in the last quarter. Hedge funds and other institutional investors own 7.29% of the company’s stock.

About Ericsson

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.

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