Ericsson (NASDAQ:ERIC) will post its quarterly earnings results before the market opens on Friday, October 20th. Analysts expect Ericsson to post earnings of $0.03 per share for the quarter.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. On average, analysts expect Ericsson to post $-0.01 EPS for the current fiscal year and $0.29 EPS for the next fiscal year.

Ericsson (NASDAQ:ERIC) opened at 5.90 on Wednesday. Ericsson has a 12-month low of $4.83 and a 12-month high of $7.47.

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Several brokerages have recently issued reports on ERIC. Zacks Investment Research cut shares of Ericsson from a “hold” rating to a “strong sell” rating in a report on Friday, October 6th. Credit Suisse Group cut shares of Ericsson from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $4.65 in a report on Tuesday, October 3rd. Canaccord Genuity lowered their target price on shares of Ericsson from $6.00 to $5.25 and set a “hold” rating for the company in a report on Friday, September 22nd. BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a report on Thursday, September 21st. Finally, Danske cut shares of Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Ericsson currently has an average rating of “Hold” and a consensus target price of $5.18.

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.

Earnings History for Ericsson (NASDAQ:ERIC)

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