BidaskClub Lowers Telefonaktiebolaget LM Ericsson (ERIC) to Strong Sell

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.

Several other brokerages have also weighed in on ERIC. Zacks Investment Research lowered Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 9th. Canaccord Genuity reaffirmed a “hold” rating and issued a $6.50 target price on shares of Telefonaktiebolaget LM Ericsson in a research report on Thursday, December 21st. Citigroup lowered Telefonaktiebolaget LM Ericsson from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. ValuEngine raised Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 target price on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, October 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.59.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) opened at $6.92 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. The stock has a market capitalization of $22,972.29, a P/E ratio of -11.34, a P/E/G ratio of 28.97 and a beta of 1.10. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.52 and a 52-week high of $7.47.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson by 14.4% in the second quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock worth $143,000 after purchasing an additional 2,520 shares in the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson by 14.1% in the second quarter. First Allied Advisory Services Inc. now owns 24,841 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 3,064 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson by 121.2% in the third quarter. Regal Investment Advisors LLC now owns 26,271 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 14,397 shares in the last quarter. Well Done LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson in the third quarter worth $173,000. Finally, Mackenzie Financial Corp grew its stake in shares of Telefonaktiebolaget LM Ericsson by 30.2% in the third quarter. Mackenzie Financial Corp now owns 36,015 shares of the communications equipment provider’s stock worth $207,000 after purchasing an additional 8,351 shares in the last quarter. 8.07% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/28/bidaskclub-lowers-telefonaktiebolaget-lm-ericsson-eric-to-strong-sell.html.

Telefonaktiebolaget LM 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 Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Receive News & Ratings for Telefonaktiebolaget LM Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply