Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have been given a consensus rating of “Hold” by the twenty-three ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.60.

A number of equities research analysts have issued reports on the stock. Canaccord Genuity reissued a “neutral – hold” rating and set a $7.00 target price on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, June 30th. Citigroup Inc. began coverage on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, June 8th. They issued a “buy” rating on the stock. Societe Generale began coverage on shares of Telefonaktiebolaget LM Ericsson in a report on Wednesday, June 14th. They issued a “hold” rating on the stock. Credit Suisse Group raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 12th. Finally, J P Morgan Chase & Co reaffirmed a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a report on Tuesday, July 18th.

Several hedge funds have recently bought and sold shares of ERIC. Primecap Management Co. CA raised its stake in Telefonaktiebolaget LM Ericsson by 2.9% in the first quarter. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider’s stock worth $543,829,000 after buying an additional 2,290,675 shares in the last quarter. Brandes Investment Partners LP raised its stake in shares of Telefonaktiebolaget LM Ericsson by 9.1% in the first quarter. Brandes Investment Partners LP now owns 10,712,458 shares of the communications equipment provider’s stock valued at $71,131,000 after buying an additional 894,358 shares during the period. Credit Suisse AG raised its stake in shares of Telefonaktiebolaget LM Ericsson by 912.8% in the first quarter. Credit Suisse AG now owns 4,542,361 shares of the communications equipment provider’s stock valued at $30,161,000 after buying an additional 4,093,879 shares during the period. FMR LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson by 200.2% in the fourth quarter. FMR LLC now owns 4,483,260 shares of the communications equipment provider’s stock valued at $26,137,000 after buying an additional 2,989,600 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Telefonaktiebolaget LM Ericsson by 215.4% in the second quarter. Sei Investments Co. now owns 2,986,334 shares of the communications equipment provider’s stock valued at $21,412,000 after buying an additional 2,039,348 shares during the period. Institutional investors own 8.13% of the company’s stock.

Telefonaktiebolaget LM Ericsson (ERIC) opened at 6.23 on Monday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.83 and a 52-week high of $7.55. The firm’s market cap is $20.41 billion.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. Telefonaktiebolaget LM Ericsson had a negative net margin of 1.99% and a negative return on equity of 3.25%. The business had revenue of $49.90 billion for the quarter, compared to the consensus estimate of $50.66 billion. During the same period in the previous year, the firm earned $0.83 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post $0.23 EPS for the current year.

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About Telefonaktiebolaget LM Ericsson

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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