Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have been given a consensus rating of “Hold” by the fourteen brokerages that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.54.

ERIC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Telefonaktiebolaget LM Ericsson in a report on Monday, September 17th. Credit Suisse Group upgraded shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “hold” rating and upped their target price for the company from $7.19 to $8.00 in a research report on Wednesday, September 19th. Zacks Investment Research upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Wednesday, September 19th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Finally, Canaccord Genuity upped their target price on shares of Telefonaktiebolaget LM Ericsson from $8.50 to $9.00 and gave the company a “hold” rating in a research report on Friday, September 28th.

A number of institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA grew its holdings in Telefonaktiebolaget LM Ericsson by 0.9% during the 3rd quarter. Primecap Management Co. CA now owns 132,741,106 shares of the communications equipment provider’s stock worth $1,168,122,000 after acquiring an additional 1,143,200 shares in the last quarter. Morgan Stanley grew its stake in Telefonaktiebolaget LM Ericsson by 12.3% during the 3rd quarter. Morgan Stanley now owns 5,125,882 shares of the communications equipment provider’s stock valued at $45,107,000 after acquiring an additional 561,794 shares in the last quarter. FMR LLC grew its stake in Telefonaktiebolaget LM Ericsson by 122.5% during the 2nd quarter. FMR LLC now owns 4,650,110 shares of the communications equipment provider’s stock valued at $35,666,000 after acquiring an additional 2,560,110 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Telefonaktiebolaget LM Ericsson during the 2nd quarter valued at about $33,931,000. Finally, JPMorgan Chase & Co. grew its stake in Telefonaktiebolaget LM Ericsson by 324.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock valued at $26,617,000 after acquiring an additional 2,312,625 shares in the last quarter. 7.89% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson stock traded down $0.06 during midday trading on Friday, reaching $8.47. The stock had a trading volume of 35,481 shares, compared to its average volume of 5,688,237. Telefonaktiebolaget LM Ericsson has a 1-year low of $6.00 and a 1-year high of $9.45. The firm has a market cap of $30.61 billion, a PE ratio of -18.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.52.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Thursday, October 18th. The communications equipment provider reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.08. Telefonaktiebolaget LM Ericsson had a negative return on equity of 0.43% and a negative net margin of 9.26%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $5.63 billion. As a group, equities research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.27 EPS for the current year.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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