BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report sent to investors on Friday, July 14th.

Several other analysts also recently commented on ERIC. Bank of America Corporation reaffirmed a buy rating on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, June 2nd. ValuEngine raised shares of Telefonaktiebolaget LM Ericsson from a strong sell rating to a sell rating in a report on Friday, June 2nd. Canaccord Genuity reissued a neutral – hold rating and set a $7.00 price target on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, June 30th. Cowen and Company reissued a market perform rating and set a $3.00 price target (down from $4.00) on shares of Telefonaktiebolaget LM Ericsson in a report on Saturday, April 29th. Finally, Societe Generale began coverage on shares of Telefonaktiebolaget LM Ericsson in a report on Wednesday, June 14th. They set a hold rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Telefonaktiebolaget LM Ericsson presently has a consensus rating of Hold and a consensus target price of $5.95.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) traded down 1.12% during midday trading on Friday, reaching $6.16. 2,612,878 shares of the company traded hands. The company’s market capitalization is $20.18 billion. The company has a 50 day moving average price of $6.84 and a 200 day moving average price of $6.55. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.83 and a 1-year high of $7.55.

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

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Institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA increased its position in Telefonaktiebolaget LM Ericsson by 71.4% in the second quarter. Federated Investors Inc. PA now owns 240,000 shares of the communications equipment provider’s stock valued at $1,721,000 after buying an additional 100,000 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Telefonaktiebolaget LM Ericsson during the second quarter valued at about $1,202,000. Chartwell Investment Partners LLC increased its position in Telefonaktiebolaget LM Ericsson by 152.0% in the second quarter. Chartwell Investment Partners LLC now owns 436,000 shares of the communications equipment provider’s stock valued at $3,126,000 after buying an additional 263,000 shares during the last quarter. Bank of New York Mellon Corp increased its position in Telefonaktiebolaget LM Ericsson by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 96,675 shares of the communications equipment provider’s stock valued at $693,000 after buying an additional 2,891 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Telefonaktiebolaget LM Ericsson by 34.1% in the second quarter. SG Americas Securities LLC now owns 480,170 shares of the communications equipment provider’s stock valued at $3,443,000 after buying an additional 122,147 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson Company Profile

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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