Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Stock Rating Lowered by BidaskClub

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

A number of other analysts have also recently issued reports on the stock. Santander cut shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Cowen reiterated a “hold” rating and issued a $9.00 target price on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, July 19th. Goldman Sachs Group upgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “conviction-buy” rating and set a $11.50 price objective for the company in a research note on Monday, July 29th. ValuEngine cut shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America upgraded shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “buy” rating and set a $9.85 price objective for the company in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Telefonaktiebolaget LM Ericsson currently has a consensus rating of “Hold” and an average target price of $9.89.

NASDAQ ERIC opened at $8.31 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $27.74 billion, a PE ratio of 277.00 and a beta of 0.50. The company has a 50 day moving average price of $8.90 and a two-hundred day moving average price of $9.37. Telefonaktiebolaget LM Ericsson has a 12-month low of $8.04 and a 12-month high of $10.46.



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

Several institutional investors have recently modified their holdings of ERIC. FMR LLC lifted its stake in shares of 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 worth $103,429,000 after buying an additional 6,239,848 shares during the last quarter. Renaissance Technologies LLC increased its position in Telefonaktiebolaget LM Ericsson by 10.7% during the second quarter. Renaissance Technologies LLC now owns 23,362,900 shares of the communications equipment provider’s stock worth $221,948,000 after acquiring an additional 2,259,100 shares during the period. Morgan Stanley increased its position in Telefonaktiebolaget LM Ericsson by 69.8% during the second quarter. Morgan Stanley now owns 2,436,475 shares of the communications equipment provider’s stock worth $23,145,000 after acquiring an additional 1,001,417 shares during the period. Bank of America Corp DE increased its position in Telefonaktiebolaget LM Ericsson by 48.0% during the second quarter. Bank of America Corp DE now owns 2,553,876 shares of the communications equipment provider’s stock worth $24,262,000 after acquiring an additional 827,740 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in Telefonaktiebolaget LM Ericsson during the second quarter worth $5,277,000. Institutional investors and hedge funds own 8.27% of the company’s stock.

Telefonaktiebolaget LM Ericsson Company Profile

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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