Telefonaktiebolaget LM Ericsson’s (ERIC) Hold Rating Reiterated at Cowen

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating reiterated by investment analysts at Cowen in a report issued on Friday, AnalystRatings.com reports. They presently have a $9.00 target price on the communications equipment provider’s stock. Cowen’s price objective would indicate a potential upside of 1.69% from the company’s previous close.

ERIC has been the subject of several other reports. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Zacks Investment Research lowered shares of Great Portland Estates from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. New Street Research lowered shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “sell” rating in a research note on Wednesday, May 29th. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, TheStreet raised shares of Telefonaktiebolaget LM Ericsson from a “c” rating to a “b” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.57.

ERIC stock opened at $8.85 on Friday. The firm has a fifty day simple moving average of $9.59. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $7.63 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 1.42. The stock has a market capitalization of $29.51 billion, a price-to-earnings ratio of 295.00 and a beta of 0.49.



Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Wednesday, July 17th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $54.80 billion for the quarter, compared to analysts’ expectations of $53.25 billion. Telefonaktiebolaget LM Ericsson had a return on equity of 6.37% and a net margin of 0.16%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) earnings per share. As a group, research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.36 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in Telefonaktiebolaget LM Ericsson by 22.4% in the second quarter. Commonwealth Equity Services LLC now owns 61,049 shares of the communications equipment provider’s stock valued at $579,000 after buying an additional 11,162 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $142,000. Canton Hathaway LLC boosted its position in Telefonaktiebolaget LM Ericsson by 30.5% in the second quarter. Canton Hathaway LLC now owns 5,220 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 1,220 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson in the first quarter valued at approximately $238,000. Finally, FMR LLC boosted its position in Telefonaktiebolaget LM Ericsson by 124.1% in the first quarter. FMR LLC now owns 11,266,731 shares of the communications equipment provider’s stock valued at $103,429,000 after buying an additional 6,239,848 shares during the last quarter. Institutional investors and hedge funds own 7.81% 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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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