BidaskClub lowered shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a hold rating to a sell rating in a research report report published on Tuesday, BidAskClub reports.

A number of other research analysts have also weighed in on ERIC. New Street Research lowered shares of Telefonaktiebolaget LM Ericsson from a neutral rating to a sell rating in a report on Wednesday, May 29th. ValuEngine lowered shares of Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a report on Thursday, August 1st. Cowen reissued a hold rating and issued a $9.00 target price on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, July 19th. TheStreet raised shares of Telefonaktiebolaget LM Ericsson from a c rating to a b rating in a report on Monday, July 8th. Finally, Credit Suisse Group raised shares of Telefonaktiebolaget LM Ericsson from a neutral rating to an outperform rating and set a $9.98 target price for the company in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Telefonaktiebolaget LM Ericsson presently has a consensus rating of Hold and an average target price of $9.89.

ERIC stock opened at $8.11 on Tuesday. The firm has a fifty day moving average price of $8.87 and a 200 day moving average price of $9.36. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $8.04 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.42. The firm has a market cap of $27.84 billion, a PE ratio of 270.33 and a beta of 0.50.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its earnings results on Wednesday, July 17th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Telefonaktiebolaget LM Ericsson had a net margin of 0.16% and a return on equity of 6.37%. The business had revenue of $54.80 billion during the quarter, compared to analysts’ expectations of $53.25 billion. During the same period last year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.36 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ERIC. FMR LLC lifted its position in Telefonaktiebolaget LM Ericsson by 124.1% in the first quarter. FMR LLC now owns 11,266,731 shares of the communications equipment provider’s stock worth $103,429,000 after buying an additional 6,239,848 shares during the last quarter. Renaissance Technologies LLC lifted its position in Telefonaktiebolaget LM Ericsson by 10.7% in the second quarter. Renaissance Technologies LLC now owns 23,362,900 shares of the communications equipment provider’s stock worth $221,948,000 after buying an additional 2,259,100 shares during the last quarter. Morgan Stanley lifted its position in Telefonaktiebolaget LM Ericsson by 69.8% in the second quarter. Morgan Stanley now owns 2,436,475 shares of the communications equipment provider’s stock worth $23,145,000 after buying an additional 1,001,417 shares during the last quarter. Bank of America Corp DE lifted its position in Telefonaktiebolaget LM Ericsson by 48.0% in the second quarter. Bank of America Corp DE now owns 2,553,876 shares of the communications equipment provider’s stock worth $24,262,000 after buying an additional 827,740 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Telefonaktiebolaget LM Ericsson in the second quarter worth $5,277,000. Institutional investors own 8.27% of the company’s stock.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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