Ericsson (NASDAQ:ERIC)‘s stock had its “neutral” rating reaffirmed by investment analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Saturday.

Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Citigroup Inc. began coverage on shares of Ericsson in a research note on Thursday, June 8th. They issued a “buy” rating for the company. ValuEngine upgraded shares of Ericsson from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company reiterated a “market perform” rating and issued a $3.00 price objective (down from $4.00) on shares of Ericsson in a research note on Saturday, April 29th. Finally, Bank of America Corporation reiterated a “buy” rating on shares of Ericsson in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Ericsson currently has a consensus rating of “Hold” and a consensus target price of $5.95.

Ericsson (NASDAQ ERIC) opened at 5.93 on Friday. Ericsson has a one year low of $4.83 and a one year high of $7.47.

Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company had revenue of $49.90 billion for the quarter, compared to analysts’ expectations of $50.66 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts predict that Ericsson will post $0.23 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC increased its stake in Ericsson by 51.0% in the first quarter. Profund Advisors LLC now owns 182,266 shares of the communications equipment provider’s stock worth $1,210,000 after buying an additional 61,523 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in Ericsson by 25.7% in the first quarter. Wetherby Asset Management Inc. now owns 40,587 shares of the communications equipment provider’s stock worth $269,000 after buying an additional 8,299 shares in the last quarter. Wells Fargo & Company MN increased its stake in Ericsson by 239.1% in the first quarter. Wells Fargo & Company MN now owns 569,851 shares of the communications equipment provider’s stock worth $3,784,000 after buying an additional 401,783 shares in the last quarter. OLD National Bancorp IN increased its stake in Ericsson by 8.1% in the first quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,181 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Ericsson by 11.7% in the first quarter. Advisors Asset Management Inc. now owns 330,501 shares of the communications equipment provider’s stock worth $2,195,000 after buying an additional 34,528 shares in the last quarter. 7.95% of the stock is owned by hedge funds and other institutional investors.

About 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 Ericsson (NASDAQ:ERIC)

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