Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Downgraded to “Strong Sell” at BidaskClub

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

A number of other equities analysts have also weighed in on the stock. New Street Research assumed coverage on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, October 18th. They set a “neutral” rating on the stock. DZ Bank raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Charter Equity raised shares of Telefonaktiebolaget LM Ericsson from a “market perform” rating to a “buy” rating in a research note on Friday, October 18th. ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating and set a $9.50 target price on the stock. in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $9.97.

ERIC traded up $0.19 on Tuesday, reaching $9.02. 2,480,818 shares of the company’s stock were exchanged, compared to its average volume of 4,796,465. The stock has a market cap of $29.05 billion, a PE ratio of 300.67 and a beta of 0.55. Telefonaktiebolaget LM Ericsson has a twelve month low of $7.58 and a twelve month high of $10.46. The stock’s fifty day moving average price is $8.96 and its 200-day moving average price is $8.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.05.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Thursday, October 17th. The communications equipment provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.27). The business had revenue of $57.13 billion for the quarter, compared to analyst estimates of $56.60 billion. Telefonaktiebolaget LM Ericsson had a negative return on equity of 4.44% and a negative net margin of 3.89%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ERIC. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the 1st quarter valued at approximately $238,000. Pacer Advisors Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $94,000. Northern Trust Corp grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 0.9% in the second quarter. Northern Trust Corp now owns 2,910,482 shares of the communications equipment provider’s stock valued at $27,649,000 after purchasing an additional 25,653 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 124.9% in the second quarter. Tower Research Capital LLC TRC now owns 16,429 shares of the communications equipment provider’s stock valued at $156,000 after purchasing an additional 9,124 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $1,120,000. 8.06% of the stock is currently owned by institutional investors.

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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