Ericsson (NASDAQ:ERIC) posted its earnings results on Friday. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07), Morningstar.com reports. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company had revenue of $47.80 billion during the quarter, compared to the consensus estimate of $47.21 billion. During the same period last year, the firm posted $0.34 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis.

Ericsson (ERIC) traded up 9.32% on Friday, hitting $6.45. 14,032,735 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $5.78 and its 200-day moving average price is $6.41. Ericsson has a 12-month low of $4.83 and a 12-month high of $7.47. The company’s market cap is $21.13 billion.

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ERIC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BNP Paribas raised shares of Ericsson from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 21st. Danske downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. BidaskClub downgraded shares of Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity reissued a “neutral – hold” rating and set a $7.00 price objective on shares of Ericsson in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.34.

A number of institutional investors have recently made changes to their positions in the business. Eqis Capital Management Inc. raised its position in Ericsson by 584.8% during the 3rd quarter. Eqis Capital Management Inc. now owns 79,624 shares of the communications equipment provider’s stock worth $458,000 after buying an additional 67,996 shares during the last quarter. OLD Mission Capital LLC purchased a new position in Ericsson during the 2nd quarter worth $6,213,000. The Manufacturers Life Insurance Company raised its position in Ericsson by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,775 shares of the communications equipment provider’s stock worth $314,000 after buying an additional 5,746 shares during the last quarter. Ulysses Management LLC purchased a new position in Ericsson during the 2nd quarter worth $7,170,000. Finally, First Allied Advisory Services Inc. raised its position in Ericsson by 14.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 24,841 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 3,064 shares during the last quarter. Institutional investors own 7.95% of the company’s stock.

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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