Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have received an average recommendation of “Hold” from the nineteen research firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.43.
Several analysts have recently weighed in on the stock. Credit Suisse Group AG raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 12th. Zacks Investment Research lowered shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. Goldman Sachs Group Inc raised shares of Telefonaktiebolaget LM Ericsson from a “sell” rating to a “buy” rating and raised their price objective for the stock from $5.70 to $7.80 in a report on Thursday, March 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, March 17th. Finally, Sanford C. Bernstein raised shares of Telefonaktiebolaget LM Ericsson from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 29th.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded up 1.69% during trading on Friday, reaching $6.60. The company’s stock had a trading volume of 1,625,469 shares. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.83 and a 1-year high of $8.04. The company’s 50-day moving average price is $6.47 and its 200 day moving average price is $5.98. The stock’s market capitalization is $21.60 billion.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 25th. The communications equipment provider reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.30. Telefonaktiebolaget LM Ericsson had a return on equity of 6.20% and a net margin of 0.85%. The business had revenue of $46.40 billion during the quarter, compared to analyst estimates of $47.36 billion. During the same period last year, the company earned $0.87 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts anticipate that Telefonaktiebolaget LM Ericsson will post $0.31 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR acquired a new position in shares of Telefonaktiebolaget LM Ericsson during the third quarter worth about $104,000. OLD National Bancorp IN boosted its position in shares of Telefonaktiebolaget LM Ericsson by 8.1% in the first quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,181 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $106,000. Mackenzie Financial Corp acquired a new position in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $109,000. Finally, Quantum Capital Management acquired a new position in shares of Telefonaktiebolaget LM Ericsson during the first quarter worth about $112,000. 7.51% of the stock is currently owned by hedge funds and other institutional investors.
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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