Brokerages Set Ericsson (ERIC) PT at $5.93

Ericsson (NASDAQ:ERIC) has earned an average recommendation of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.93.

Several research analysts have issued reports on ERIC shares. BidaskClub lowered Ericsson from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $6.00 price target on shares of Ericsson in a report on Friday, October 20th. Canaccord Genuity reiterated a “hold” rating and issued a $6.00 price target on shares of Ericsson in a report on Tuesday, July 18th. J P Morgan Chase & Co reiterated a “hold” rating on shares of Ericsson in a report on Tuesday, July 18th. Finally, Danske lowered Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st.

Ericsson (NASDAQ:ERIC) traded down $0.08 during midday trading on Friday, reaching $5.87. The company had a trading volume of 3,127,200 shares, compared to its average volume of 4,993,510. Ericsson has a fifty-two week low of $5.07 and a fifty-two week high of $7.47. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 0.24.

Ericsson (NASDAQ:ERIC) last released its earnings results on Friday, October 20th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $47.80 billion for the quarter, compared to analyst estimates of $47.21 billion. Ericsson had a negative return on equity of 5.67% and a negative net margin of 8.60%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. research analysts predict that Ericsson will post -0.13 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of ERIC. PNC Financial Services Group Inc. lifted its holdings in shares of Ericsson by 15.3% in the first quarter. PNC Financial Services Group Inc. now owns 35,209 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 4,663 shares in the last quarter. UBS Group AG lifted its holdings in shares of Ericsson by 21.5% in the first quarter. UBS Group AG now owns 185,218 shares of the communications equipment provider’s stock valued at $1,230,000 after purchasing an additional 32,767 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Ericsson by 113.3% in the first quarter. Morgan Stanley now owns 210,410 shares of the communications equipment provider’s stock valued at $1,397,000 after purchasing an additional 111,753 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ericsson by 5.0% in the first quarter. Bank of America Corp DE now owns 1,365,314 shares of the communications equipment provider’s stock valued at $9,066,000 after purchasing an additional 65,042 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Ericsson by 1.0% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

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About Ericsson

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 Ericsson (NASDAQ:ERIC)

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