BidaskClub upgraded shares of Ericsson (NASDAQ:ERIC) from a strong sell rating to a sell rating in a research note published on Tuesday.
ERIC has been the subject of several other research reports. Zacks Investment Research downgraded Ericsson from a hold rating to a strong sell rating in a research note on Tuesday, January 9th. ValuEngine downgraded Ericsson from a hold rating to a sell rating in a research note on Wednesday, March 7th. Charter Equity upgraded Ericsson from a market perform rating to a buy rating in a research note on Monday, April 23rd. Bank of America downgraded Ericsson from a buy rating to an underperform rating in a research note on Monday, February 5th. Finally, BMO Capital Markets restated a hold rating on shares of Ericsson in a research note on Friday, April 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $5.91.
Shares of ERIC opened at $7.59 on Tuesday. Ericsson has a fifty-two week low of $5.52 and a fifty-two week high of $7.93. The stock has a market capitalization of $25,639.61, a P/E ratio of -16.15 and a beta of 0.82. The company has a quick ratio of 1.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.33.
Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, April 20th. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. Ericsson had a negative return on equity of 4.58% and a negative net margin of 12.75%. The company had revenue of $43.40 billion during the quarter, compared to analyst estimates of $43.59 billion. During the same quarter last year, the firm posted ($2.42) EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. sell-side analysts expect that Ericsson will post 0.17 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of ERIC. Keybank National Association OH bought a new stake in shares of Ericsson during the 4th quarter valued at about $100,000. James Hambro & Partners bought a new stake in shares of Ericsson during the 4th quarter valued at about $157,000. Gotham Asset Management LLC bought a new stake in shares of Ericsson during the 4th quarter valued at about $191,000. Verition Fund Management LLC bought a new stake in shares of Ericsson during the 4th quarter valued at about $205,000. Finally, Investors Research Corp bought a new stake in shares of Ericsson during the 4th quarter valued at about $398,000. Hedge funds and other institutional investors own 8.31% of the company’s stock.
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, 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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