Ericsson (NASDAQ:ERIC) Rating Reiterated by J P Morgan Chase & Co

Ericsson (NASDAQ:ERIC)‘s stock had its “hold” rating restated by J P Morgan Chase & Co in a research report issued on Tuesday, July 18th.

Several other equities analysts have also issued reports on the company. Citigroup Inc. started coverage on Ericsson in a research note on Thursday, June 8th. They issued a “buy” rating on the stock. Credit Suisse Group upgraded Ericsson from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 12th. Zacks Investment Research lowered Ericsson from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Sanford C. Bernstein upgraded Ericsson from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 29th. Finally, Societe Generale assumed coverage on Ericsson in a research note on Wednesday, June 14th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.95.

Shares of Ericsson (NASDAQ ERIC) traded down 0.33% on Tuesday, reaching $6.00. 2,389,439 shares of the company’s stock were exchanged. Ericsson has a one year low of $4.83 and a one year high of $7.55.

Ericsson (NASDAQ:ERIC) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.03. Ericsson had a negative net margin of 6.40% and a negative return on equity of 3.16%. The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. During the same quarter last year, the firm earned $0.83 EPS. Ericsson’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities analysts anticipate that Ericsson will post $0.23 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH increased its stake in 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 worth $130,000 after buying an additional 174 shares during the period. Greenleaf Trust increased its stake in Ericsson by 2.6% in the second quarter. Greenleaf Trust now owns 31,146 shares of the communications equipment provider’s stock worth $223,000 after buying an additional 797 shares during the period. OLD National Bancorp IN increased its stake in 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 period. Stephens Inc. AR increased its stake in Ericsson by 5.0% in the first quarter. Stephens Inc. AR now owns 25,964 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 1,227 shares during the period. Finally, Ronald Blue & Co. LLC increased its stake in Ericsson by 7.0% in the second quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock worth $141,000 after buying an additional 1,283 shares during the period. 8.13% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

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