Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday.

ERIC has been the topic of several other reports. ValuEngine lowered Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research lowered Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 9th. Bank of America lowered Telefonaktiebolaget LM Ericsson from a “buy” rating to an “underperform” rating in a report on Monday, February 5th. Canaccord Genuity decreased their target price on Telefonaktiebolaget LM Ericsson from $5.75 to $5.25 and set a “hold” rating on the stock in a research report on Monday, October 23rd. Finally, Citigroup downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.49.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) opened at $6.57 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.33. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.52 and a 1-year high of $7.47. The company has a market capitalization of $21,880.00, a P/E ratio of -4.94 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Wednesday, January 31st. The communications equipment provider reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.18). Telefonaktiebolaget LM Ericsson had a negative net margin of 17.57% and a negative return on equity of 11.30%. The business had revenue of $57.20 billion during the quarter, compared to analyst estimates of $58.24 billion. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.03 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at approximately $5,601,000. Virtu Financial LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson by 133.1% in the fourth quarter. Virtu Financial LLC now owns 86,328 shares of the communications equipment provider’s stock valued at $577,000 after acquiring an additional 49,291 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Telefonaktiebolaget LM Ericsson by 934.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 418,147 shares of the communications equipment provider’s stock valued at $2,794,000 after acquiring an additional 377,722 shares in the last quarter. Keybank National Association OH purchased a new position in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at approximately $100,000. Finally, Eqis Capital Management Inc. lifted its position in shares of Telefonaktiebolaget LM Ericsson by 79.0% in the fourth quarter. Eqis Capital Management Inc. now owns 142,488 shares of the communications equipment provider’s stock valued at $952,000 after acquiring an additional 62,864 shares in the last quarter. Institutional investors and hedge funds own 8.04% of the company’s stock.

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Telefonaktiebolaget LM Ericsson Company Profile

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.

Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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