Ericsson’s (ERIC) Hold Rating Reaffirmed at J P Morgan Chase & Co
Several other brokerages have also commented on ERIC. Zacks Investment Research raised shares of Ericsson from a strong sell rating to a hold rating in a research report on Monday, July 17th. BidaskClub upgraded shares of Ericsson from a buy rating to a strong-buy rating in a report on Friday, July 14th. ValuEngine upgraded shares of Ericsson from a strong sell rating to a sell rating in a report on Friday, June 2nd. Bank of America Corporation reiterated a buy rating on shares of Ericsson in a report on Friday, June 2nd. Finally, Societe Generale initiated coverage on shares of Ericsson in a report on Wednesday, June 14th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $5.95.
Shares of Ericsson (ERIC) remained flat at $6.29 during mid-day trading on Tuesday. The company had a trading volume of 10,620,120 shares. The stock’s market cap is $20.59 billion. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.55.
Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Equities analysts anticipate that Ericsson will post $0.26 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG raised its position in shares of Ericsson by 912.8% in the first quarter. Credit Suisse AG now owns 4,542,361 shares of the communications equipment provider’s stock worth $30,161,000 after buying an additional 4,093,879 shares during the last quarter. FMR LLC raised its position in shares of Ericsson by 200.2% in the fourth quarter. FMR LLC now owns 4,483,260 shares of the communications equipment provider’s stock worth $26,137,000 after buying an additional 2,989,600 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Ericsson by 2.9% in the first quarter. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider’s stock worth $543,829,000 after buying an additional 2,290,675 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Ericsson during the first quarter worth $14,129,000. Finally, Dodge & Cox purchased a new position in shares of Ericsson during the fourth quarter worth $11,480,000. Institutional investors own 8.08% of the company’s stock.
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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