Ericsson (NASDAQ:ERIC) – Equities researchers at Credit Agricole SA dropped their Q4 2016 earnings per share (EPS) estimates for shares of Ericsson in a research report issued to clients and investors on Friday. Credit Agricole SA analyst A. Silver now forecasts that the brokerage will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.12. Credit Agricole SA also issued estimates for Ericsson’s FY2017 earnings at $0.31 EPS and FY2018 earnings at $0.36 EPS.

Earnings History and Estimates for Ericsson (NASDAQ:ERIC)

ERIC has been the subject of several other research reports. Vetr raised shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Monday, August 29th. Morgan Stanley reissued a “neutral” rating on shares of Ericsson in a report on Monday, October 10th. DNB Markets downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $7.00 price objective on shares of Ericsson in a report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Ericsson has an average rating of “Hold” and an average target price of $8.21.

Shares of Ericsson (NASDAQ:ERIC) opened at 5.04 on Monday. Ericsson has a 1-year low of $4.83 and a 1-year high of $10.20. The company has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00.

Several institutional investors have recently modified their holdings of ERIC. JPMorgan Chase & Co. raised its position in shares of Ericsson by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 110,628 shares of the company’s stock worth $1,109,000 after buying an additional 18,219 shares during the period. Renaissance Technologies LLC raised its position in shares of Ericsson by 123.3% in the first quarter. Renaissance Technologies LLC now owns 1,494,100 shares of the company’s stock worth $14,986,000 after buying an additional 825,131 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Ericsson by 3.5% in the first quarter. Envestnet Asset Management Inc. now owns 659,396 shares of the company’s stock worth $6,614,000 after buying an additional 22,225 shares during the period. First Republic Investment Management Inc. raised its position in shares of Ericsson by 71.3% in the first quarter. First Republic Investment Management Inc. now owns 499,360 shares of the company’s stock worth $5,009,000 after buying an additional 207,770 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of Ericsson during the second quarter worth approximately $190,000. 7.44% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:ERIC

Receive News & Stock Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related stocks with our FREE daily email newsletter.