Ericsson (NASDAQ:ERIC) has received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.93.

Several brokerages recently issued reports on ERIC. 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 reiterated a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Canaccord Genuity cut their target price on shares of Ericsson from $5.75 to $5.25 and set a “hold” rating for the company in a research note on Monday, October 23rd. BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “strong sell” rating in a research note on Friday, October 6th.

Ericsson (NASDAQ:ERIC) opened at $6.22 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.72. Ericsson has a 1-year low of $5.44 and a 1-year high of $7.47.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, October 20th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.07). The company had revenue of $47.80 billion during the quarter, compared to the consensus estimate of $47.21 billion. Ericsson had a negative net margin of 8.60% and a negative return on equity of 5.67%. Ericsson’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. equities research analysts anticipate that Ericsson will post -0.13 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of ERIC. Morgan Stanley lifted its position in Ericsson by 113.3% during the first quarter. Morgan Stanley now owns 210,410 shares of the communications equipment provider’s stock worth $1,397,000 after acquiring an additional 111,753 shares during the last quarter. US Bancorp DE lifted its position in Ericsson by 9.8% during the second quarter. US Bancorp DE now owns 55,888 shares of the communications equipment provider’s stock worth $401,000 after acquiring an additional 4,967 shares during the last quarter. NGAM Advisors L.P. lifted its position in Ericsson by 2.6% during the second quarter. NGAM Advisors L.P. now owns 156,756 shares of the communications equipment provider’s stock worth $1,124,000 after acquiring an additional 4,040 shares during the last quarter. Global X Management Co. LLC lifted its position in Ericsson by 5.4% during the second quarter. Global X Management Co. LLC now owns 175,708 shares of the communications equipment provider’s stock worth $1,260,000 after acquiring an additional 8,924 shares during the last quarter. Finally, GenTrust LLC acquired a new stake in Ericsson during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 8.08% of the company’s stock.

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About Ericsson

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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