Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Canaccord Genuity raised shares of Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating in a research note on Tuesday, October 1st. ValuEngine downgraded shares of Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a research note on Thursday, August 1st. Goldman Sachs Group raised shares of Telefonaktiebolaget LM Ericsson from a buy rating to a conviction-buy rating and set a $11.50 target price on the stock in a research note on Monday, July 29th. Santander downgraded shares of Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a research note on Monday, July 1st. Finally, DZ Bank raised shares of Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $10.07.

Shares of ERIC stock traded down $0.10 during trading hours on Thursday, reaching $8.34. The stock had a trading volume of 3,478,541 shares, compared to its average volume of 6,231,229. The stock’s fifty day simple moving average is $8.03 and its 200 day simple moving average is $9.05. The company has a current ratio of 1.42, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48. Telefonaktiebolaget LM Ericsson has a 12 month low of $7.58 and a 12 month high of $10.46. The firm has a market capitalization of $27.48 billion, a PE ratio of 278.00 and a beta of 0.54.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its earnings results on Wednesday, July 17th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $54.80 billion for the quarter, compared to the consensus estimate of $53.25 billion. Telefonaktiebolaget LM Ericsson had a net margin of 0.16% and a return on equity of 6.37%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson by 51.2% in the third quarter. Pacer Advisors Inc. now owns 15,004 shares of the communications equipment provider’s stock worth $120,000 after buying an additional 5,080 shares during the period. Altfest L J & Co. Inc. purchased a new position in Telefonaktiebolaget LM Ericsson during the 3rd quarter valued at $326,000. Royal Bank of Canada increased its position in Telefonaktiebolaget LM Ericsson by 108.6% during the 2nd quarter. Royal Bank of Canada now owns 311,358 shares of the communications equipment provider’s stock valued at $2,959,000 after purchasing an additional 162,081 shares during the period. UBS Group AG increased its position in Telefonaktiebolaget LM Ericsson by 1.5% during the 2nd quarter. UBS Group AG now owns 1,720,464 shares of the communications equipment provider’s stock valued at $16,344,000 after purchasing an additional 25,402 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Telefonaktiebolaget LM Ericsson by 45.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,954 shares of the communications equipment provider’s stock valued at $256,000 after purchasing an additional 8,370 shares during the period. 8.19% of the stock is currently owned by institutional investors.

About Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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