ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a hold rating to a sell rating in a research report report published on Wednesday, March 7th.
A number of other equities analysts also recently weighed in on ERIC. Citigroup downgraded Telefonaktiebolaget LM Ericsson from a buy rating to a neutral rating in a research note on Thursday, November 9th. Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a strong sell rating to a hold rating in a research note on Wednesday, December 20th. Canaccord Genuity reissued a hold rating and issued a $6.50 target price on shares of Telefonaktiebolaget LM Ericsson in a research note on Thursday, December 21st. BidaskClub lowered shares of Telefonaktiebolaget LM Ericsson from a sell rating to a strong sell rating in a research report on Friday, December 29th. Finally, Bank of America lowered shares of Telefonaktiebolaget LM Ericsson from a buy rating to an underperform rating in a report on Monday, February 5th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $4.91.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded up $0.06 during midday trading on Wednesday, hitting $6.84. The company had a trading volume of 13,257,536 shares, compared to its average volume of 5,530,499. Telefonaktiebolaget LM Ericsson has a 12 month low of $5.52 and a 12 month high of $7.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.33 and a current ratio of 1.59. The firm has a market cap of $22,505.51, a P/E ratio of -5.50 and a beta of 0.84.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Wednesday, January 31st. The communications equipment provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). The firm had revenue of $57.20 billion during the quarter, compared to the consensus estimate of $58.24 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 17.57% and a negative return on equity of 11.30%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.03 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ERIC. Hotchkis & Wiley Capital Management LLC increased its holdings in Telefonaktiebolaget LM Ericsson by 24.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 114,238,889 shares of the communications equipment provider’s stock valued at $656,874,000 after acquiring an additional 22,573,761 shares during the last quarter. Folketrygdfondet boosted its position in Telefonaktiebolaget LM Ericsson by 23.7% in the 3rd quarter. Folketrygdfondet now owns 10,432,504 shares of the communications equipment provider’s stock valued at $59,987,000 after buying an additional 2,000,000 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the 3rd quarter worth approximately $46,707,000. Jane Street Group LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson by 8.7% in the 3rd quarter. Jane Street Group LLC now owns 1,692,288 shares of the communications equipment provider’s stock worth $9,731,000 after purchasing an additional 135,636 shares during the period. Finally, 13D Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 4th quarter worth approximately $11,196,000. Institutional investors own 8.32% of the company’s stock.
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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.
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