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

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.71.

A number of equities analysts have recently commented on ERIC shares. TheStreet raised shares of Telefonaktiebolaget LM Ericsson from a “c” rating to a “b” rating in a report on Monday. Zacks Investment Research cut shares of Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Cowen reaffirmed a “hold” rating and issued a $10.00 target price on shares of Telefonaktiebolaget LM Ericsson in a report on Sunday, April 21st.

ERIC stock traded up $0.15 during midday trading on Friday, reaching $9.62. 3,189,785 shares of the company were exchanged, compared to its average volume of 6,013,075. The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. Telefonaktiebolaget LM Ericsson has a 1-year low of $7.62 and a 1-year high of $10.46. The company’s 50-day moving average price is $9.69. The company has a market capitalization of $32.07 billion, a P/E ratio of 320.67 and a beta of 0.49.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business 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 company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. As a group, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter worth $36,000. Contravisory Investment Management Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter worth $52,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter worth $69,000. Two Sigma Investments LP purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter worth $94,000. Finally, Wrapmanager Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter worth $95,000. Hedge funds and other institutional investors own 7.81% 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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