Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Receives Consensus Recommendation of “Hold” from Analysts

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.71.

A number of equities analysts have recently weighed in on ERIC shares. BidaskClub cut shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine cut shares of Telefonaktiebolaget LM Ericsson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 4th. Credit Suisse Group raised shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “outperform” rating and set a $9.98 price objective on the stock in a research report on Friday, May 24th. Bank of America raised shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating and set a $9.85 price objective on the stock in a research report on Wednesday, May 22nd. Finally, New Street Research cut shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 29th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new stake in Telefonaktiebolaget LM Ericsson in the 1st quarter valued at $35,000. Canton Hathaway LLC acquired a new stake in Telefonaktiebolaget LM Ericsson in the 1st quarter valued at $36,000. NumerixS Investment Technologies Inc acquired a new stake in Telefonaktiebolaget LM Ericsson in the 1st quarter valued at $40,000. Advisors Asset Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson in the 4th quarter valued at $42,000. Finally, Contravisory Investment Management Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson in the 1st quarter valued at $52,000.

Shares of NASDAQ ERIC traded down $0.14 during midday trading on Monday, reaching $9.46. 4,574,293 shares of the stock were exchanged, compared to its average volume of 7,959,743. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of 315.33 and a beta of 0.53. Telefonaktiebolaget LM Ericsson has a 12 month low of $7.38 and a 12 month high of $10.46. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.49.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48.35 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 1.46% and a positive return on equity of 3.79%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.38 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson Company Profile

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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