Ericsson (NASDAQ:ERIC) was downgraded by research analysts at Natixis from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other equities analysts have also weighed in on ERIC. Zacks Investment Research raised Ericsson from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Goldman Sachs Group Inc. raised Ericsson from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 21st. Vetr lowered Ericsson from a “hold” rating to a “sell” rating and set a $7.64 target price for the company. in a research report on Wednesday, June 22nd. Barclays PLC raised Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $8.00 target price on shares of Ericsson in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.49.
Shares of Ericsson (NASDAQ:ERIC) opened at 5.55 on Thursday. Ericsson has a one year low of $5.54 and a one year high of $10.58. The stock has a 50 day moving average of $6.99 and a 200-day moving average of $7.74. The stock has a market capitalization of $18.10 billion, a P/E ratio of 11.51 and a beta of 0.92.
Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. Equities analysts forecast that Ericsson will post $0.51 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ERIC. Cambiar Investors LLC increased its position in Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock valued at $138,429,000 after buying an additional 1,746,391 shares during the last quarter. Telemus Capital LLC increased its position in Ericsson by 16.9% in the second quarter. Telemus Capital LLC now owns 25,113 shares of the company’s stock valued at $193,000 after buying an additional 3,636 shares during the last quarter. Princeton Alpha Management LP acquired a new position in Ericsson during the second quarter valued at $425,000. Fox Run Management L.L.C. acquired a new position in Ericsson during the second quarter valued at $190,000. Finally, Capital Fund Management S.A. acquired a new position in Ericsson during the second quarter valued at $856,000. Institutional investors and hedge funds own 7.29% of the company’s stock.
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.