Bank of America Lowers Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to Underperform

Bank of America downgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to an underperform rating in a research note published on Monday, February 5th, Marketbeat Ratings reports.

Several other brokerages have also issued reports on ERIC. Cowen lowered Telefonaktiebolaget LM Ericsson to an underperform rating in a research report on Thursday, October 19th. BMO Capital Markets reissued a hold rating and issued a $6.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, October 20th. Canaccord Genuity reissued a hold rating and issued a $6.00 price objective (down from $6.50) on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, February 1st. Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a strong sell rating to a hold rating in a research note on Wednesday, December 20th. Finally, Citigroup downgraded Telefonaktiebolaget LM Ericsson from a buy rating to a neutral rating in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Telefonaktiebolaget LM Ericsson presently has an average rating of Hold and an average price target of $5.49.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) opened at $6.66 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.33. The firm has a market capitalization of $21,838.68, a price-to-earnings ratio of -5.37 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.52 and a 1-year high of $7.47.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Wednesday, January 31st. The communications equipment provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). Telefonaktiebolaget LM Ericsson had a negative return on equity of 11.30% and a negative net margin of 17.57%. The company had revenue of $57.20 billion for the quarter, compared to analysts’ expectations of $58.24 billion. During the same quarter last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.03 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Keybank National Association OH acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $100,000. Advisor Group Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson by 14.4% in the second quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 2,520 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson by 121.2% in the third quarter. Regal Investment Advisors LLC now owns 26,271 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 14,397 shares in the last quarter. James Hambro & Partners acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $157,000. Finally, Well Done LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the third quarter valued at $173,000. 8.04% of the stock is owned by hedge funds and other institutional investors.

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About Telefonaktiebolaget LM 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 Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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