Shares of Ericsson (NASDAQ:ERIC) have earned a consensus recommendation of “Hold” from the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.35.

Several equities research analysts have commented on the stock. 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 reaffirmed a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Canaccord Genuity reaffirmed a “neutral – hold” rating and issued a $7.00 target price on shares of Ericsson in a research note on Friday, June 30th. Citigroup Inc. assumed coverage on shares of Ericsson in a research report on Thursday, June 8th. They set a “buy” rating for the company. Finally, Societe Generale assumed coverage on shares of Ericsson in a research report on Wednesday, June 14th. They set a “hold” rating for the company.

Ericsson (NASDAQ:ERIC) opened at 5.68 on Friday. Ericsson has a 1-year low of $4.83 and a 1-year high of $7.47.

Ericsson (NASDAQ:ERIC) last issued its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. The firm had revenue of $49.90 billion during the quarter, compared to the consensus estimate of $50.66 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, analysts anticipate that Ericsson will post $0.23 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in ERIC. Credit Suisse AG boosted its holdings in Ericsson by 912.8% during the first quarter. Credit Suisse AG now owns 4,542,361 shares of the communications equipment provider’s stock worth $30,161,000 after purchasing an additional 4,093,879 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Ericsson by 2.9% during the first quarter. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider’s stock worth $543,829,000 after purchasing an additional 2,290,675 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Ericsson during the second quarter worth $15,331,000. Wellington Management Group LLP acquired a new position in Ericsson during the first quarter worth $14,129,000. Finally, Sei Investments Co. boosted its holdings in Ericsson by 215.4% during the second quarter. Sei Investments Co. now owns 2,986,334 shares of the communications equipment provider’s stock worth $21,412,000 after purchasing an additional 2,039,348 shares during the last quarter. Institutional investors and hedge funds own 7.95% of the company’s stock.

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 Ericsson (NASDAQ:ERIC)

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