Ericsson (NASDAQ:ERIC) Upgraded to Hold at Cfra Research

Key Points

• Ericsson has been upgraded to a "hold" rating by Cfra Research, following a trend where several analysts have also issued mixed ratings on the stock.
• The company's latest quarterly earnings report showed an EPS of $0.16, surpassing analysts' expectations of $0.13, although revenue decreased by 9.0% year over year.
• Ericsson's current stock price is around $9.48, with a market cap of $31.74 billion and a consensus rating of "Reduce" from analysts.

Ericsson (NASDAQ:ERIC - Get Free Report) was upgraded by equities researchers at Cfra Research to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on ERIC. Danske downgraded Ericsson to a "hold" rating in a research note on Wednesday. Wall Street Zen raised Ericsson from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. BNP Paribas reaffirmed an "underperform" rating on shares of Ericsson in a research report on Wednesday, September 3rd. Barclays reaffirmed an "underweight" rating on shares of Ericsson in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Ericsson in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $9.80.

Ericsson Trading Down 1.8%

Shares of ERIC stock opened at $9.48 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.86 and a current ratio of 1.17. Ericsson has a 1 year low of $6.64 and a 1 year high of $9.87. The stock has a fifty day moving average of $8.09 and a two-hundred day moving average of $8.07. The firm has a market capitalization of $31.74 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87.

Ericsson (NASDAQ:ERIC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Ericsson had a return on equity of 21.50% and a net margin of 10.44%.The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $57.16 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts expect that Ericsson will post 0.48 EPS for the current year.

Institutional Trading of Ericsson

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of Ericsson during the 1st quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Ericsson during the 1st quarter worth about $31,000. Cromwell Holdings LLC boosted its stake in shares of Ericsson by 72.8% during the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider's stock worth $87,000 after acquiring an additional 4,330 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ericsson by 692.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 12,456 shares of the communications equipment provider's stock worth $97,000 after acquiring an additional 10,884 shares in the last quarter. Finally, Caliber Wealth Management LLC KS bought a new stake in shares of Ericsson during the 1st quarter worth about $110,000. Institutional investors own 7.99% of the company's stock.

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.

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