Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was downgraded by stock analysts at ValuEngine from a "buy" rating to a "hold" rating in a report released on Tuesday, ValuEngine reports.
A number of other research firms have also recently issued reports on ERIC. BidaskClub upgraded Telefonaktiebolaget LM Ericsson from a "sell" rating to a "hold" rating in a report on Tuesday, June 2nd. DZ Bank reiterated a "buy" rating on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, March 27th. Credit Suisse Group reiterated an "outperform" rating on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, April 17th. TheStreet upgraded Telefonaktiebolaget LM Ericsson from a "c+" rating to a "b" rating in a report on Wednesday, June 3rd. Finally, Canaccord Genuity reiterated a "buy" rating and set a $11.00 target price on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, March 26th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. The company currently has an average rating of "Buy" and an average price target of $10.20.
Shares of ERIC traded down $0.03 during trading hours on Tuesday, reaching $9.24. The stock had a trading volume of 9,190,800 shares, compared to its average volume of 8,590,240. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 52 week low of $6.15 and a 52 week high of $9.88. The firm has a 50-day moving average of $9.03 and a 200 day moving average of $8.50. The company has a market cap of $30.81 billion, a P/E ratio of 154.00, a P/E/G ratio of 0.70 and a beta of 0.39.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings data on Wednesday, April 22nd. The communications equipment provider reported $0.08 EPS for the quarter, meeting the Zacks' consensus estimate of $0.08. Telefonaktiebolaget LM Ericsson had a net margin of 0.90% and a return on equity of 4.33%. The business had revenue of $49.80 billion during the quarter, compared to analysts' expectations of $53.03 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.51 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ERIC. Lenox Wealth Management Inc. lifted its stake in Telefonaktiebolaget LM Ericsson by 5.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 25,216 shares of the communications equipment provider's stock valued at $203,000 after purchasing an additional 1,223 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in Telefonaktiebolaget LM Ericsson by 129.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 3,317 shares of the communications equipment provider's stock valued at $27,000 after purchasing an additional 1,870 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Telefonaktiebolaget LM Ericsson by 5.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,078 shares of the communications equipment provider's stock valued at $361,000 after purchasing an additional 2,023 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson in the 4th quarter valued at about $4,823,000. Finally, JPMorgan Chase & Co. lifted its position in Telefonaktiebolaget LM Ericsson by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 23,049 shares of the communications equipment provider's stock worth $187,000 after acquiring an additional 2,639 shares during the last quarter. Institutional investors own 8.48% 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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