Credit Agricole SA Analysts Decrease Earnings Estimates for Ericsson (ERIC)

Credit Agricole SA Analysts Decrease Earnings Estimates for Ericsson (ERIC)

Ericsson (NASDAQ:ERIC) – Equities researchers at Credit Agricole SA cut their Q4 2016 earnings estimates for Ericsson in a report released on Friday. Credit Agricole SA analyst A. Silver now expects that the brokerage will post earnings per share of $0.11 for the quarter, down from their previous forecast of $0.12. Credit Agricole SA also issued estimates for Ericsson’s FY2017 earnings at $0.31 EPS and FY2018 earnings at $0.36 EPS.

Several other research analysts also recently commented on ERIC. BMO Capital Markets reiterated a “hold” rating and set a $8.00 target price on shares of Ericsson in a research note on Monday, July 18th. Charter Equity downgraded Ericsson from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 20th. Canaccord Genuity reduced their target price on Ericsson from $8.50 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, July 20th. Bank of America Corp. reiterated a “hold” rating on shares of Ericsson in a research note on Tuesday, July 26th. Finally, Morgan Stanley reiterated a “neutral” rating on shares of Ericsson in a research note on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has given a strong buy rating to the company. Ericsson has an average rating of “Hold” and a consensus price target of $8.21.

Ericsson (NASDAQ:ERIC) opened at 5.04 on Monday. Ericsson has a 1-year low of $4.83 and a 1-year high of $10.20. The firm’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00.

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Institutional investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock worth $314,724,000 after buying an additional 12,562,156 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Ericsson by 4.1% in the second quarter. Primecap Management Co. CA now owns 81,505,704 shares of the company’s stock worth $625,964,000 after buying an additional 3,247,500 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock worth $79,327,000 after buying an additional 2,541,781 shares during the last quarter. Cambiar Investors LLC boosted its position in shares of Ericsson by 12.3% in the third quarter. Cambiar Investors LLC now owns 20,246,012 shares of the company’s stock worth $145,974,000 after buying an additional 2,221,436 shares during the last quarter. Finally, Symons Capital Management Inc. purchased a new position in shares of Ericsson during the second quarter worth about $15,018,000. 7.44% of the stock is owned by institutional investors.

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