Ericsson (NASDAQ:ERIC) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Ericsson's stock received a "hold (C+)" rating from Weiss Ratings, with a consensus rating of "Reduce" and an average price target of $9.80.
• For the last quarter, Ericsson reported $0.14 earnings per share, exceeding expectations, but its revenue declined by 6.2% year-over-year.
• Several institutional investors, including Ethic Inc. and Schechter Investment Advisors LLC, have recently adjusted their positions in Ericsson, with 7.99% of the stock now owned by institutional investors.

Ericsson (NASDAQ:ERIC - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen upgraded Ericsson from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. BNP Paribas restated an "underperform" rating on shares of Ericsson in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ericsson presently has a consensus rating of "Reduce" and an average price target of $9.80.

Ericsson Price Performance

Ericsson stock opened at $8.54 on Wednesday. Ericsson has a 1 year low of $6.64 and a 1 year high of $8.99. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $28.59 billion, a P/E ratio of 17.08, a PEG ratio of 13.33 and a beta of 0.87. The business has a 50-day moving average of $7.90 and a 200-day moving average of $8.03.

Ericsson (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $5.84 billion for the quarter, compared to analysts' expectations of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%.Ericsson's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.34) EPS. On average, equities analysts anticipate that Ericsson will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Ericsson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERIC. Ethic Inc. raised its position in shares of Ericsson by 0.4% in the first quarter. Ethic Inc. now owns 274,612 shares of the communications equipment provider's stock valued at $2,139,000 after purchasing an additional 1,198 shares during the period. Compound Planning Inc. boosted its holdings in shares of Ericsson by 3.2% during the 1st quarter. Compound Planning Inc. now owns 41,540 shares of the communications equipment provider's stock worth $322,000 after buying an additional 1,288 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Ericsson by 0.9% during the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider's stock worth $1,227,000 after buying an additional 1,339 shares during the period. Schechter Investment Advisors LLC boosted its holdings in shares of Ericsson by 9.5% during the 1st quarter. Schechter Investment Advisors LLC now owns 18,476 shares of the communications equipment provider's stock worth $143,000 after buying an additional 1,609 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Ericsson by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider's stock worth $2,123,000 after buying an additional 1,658 shares during the period. 7.99% of the stock is owned by institutional investors.

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.