Ericsson (ERIC) Given Consensus Rating of “Hold” by Brokerages
Ericsson (NASDAQ:ERIC) has received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.93.
Several brokerages recently issued reports on ERIC. BidaskClub downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Canaccord Genuity cut their target price on shares of Ericsson from $5.75 to $5.25 and set a “hold” rating for the company in a research note on Monday, October 23rd. BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “strong sell” rating in a research note on Friday, October 6th.
Ericsson (NASDAQ:ERIC) opened at $6.22 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.72. Ericsson has a 1-year low of $5.44 and a 1-year high of $7.47.
Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.07). The company had revenue of $47.80 billion during the quarter, compared to the consensus estimate of $47.21 billion. Ericsson had a negative net margin of 8.60% and a negative return on equity of 5.67%. Ericsson’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. equities research analysts anticipate that Ericsson will post -0.13 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of ERIC. Morgan Stanley lifted its position in Ericsson by 113.3% during the first quarter. Morgan Stanley now owns 210,410 shares of the communications equipment provider’s stock worth $1,397,000 after acquiring an additional 111,753 shares during the last quarter. US Bancorp DE lifted its position in Ericsson by 9.8% during the second quarter. US Bancorp DE now owns 55,888 shares of the communications equipment provider’s stock worth $401,000 after acquiring an additional 4,967 shares during the last quarter. NGAM Advisors L.P. lifted its position in Ericsson by 2.6% during the second quarter. NGAM Advisors L.P. now owns 156,756 shares of the communications equipment provider’s stock worth $1,124,000 after acquiring an additional 4,040 shares during the last quarter. Global X Management Co. LLC lifted its position in Ericsson by 5.4% during the second quarter. Global X Management Co. LLC now owns 175,708 shares of the communications equipment provider’s stock worth $1,260,000 after acquiring an additional 8,924 shares during the last quarter. Finally, GenTrust LLC acquired a new stake in Ericsson during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 8.08% of the company’s stock.
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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