Ericsson (ERIC) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Ericsson (NASDAQ:ERIC) issued its quarterly earnings results on Friday. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04, Morningstar.com reports. The business had revenue of $43.40 billion for the quarter, compared to the consensus estimate of $43.59 billion. Ericsson had a negative net margin of 17.57% and a negative return on equity of 11.30%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.42) EPS.

Shares of NASDAQ:ERIC opened at $7.78 on Friday. The stock has a market cap of $25,939.69, a price-to-earnings ratio of -16.55 and a beta of 0.82. Ericsson has a 1-year low of $5.52 and a 1-year high of $7.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.33.

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Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Ericsson from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 16th. BMO Capital Markets reiterated a “hold” rating on shares of Ericsson in a research report on Friday. ValuEngine downgraded shares of Ericsson from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Ericsson from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 9th. Finally, Bank of America downgraded shares of Ericsson from a “buy” rating to an “underperform” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.91.

A number of large investors have recently made changes to their positions in ERIC. Keybank National Association OH bought a new stake in Ericsson during the 4th quarter worth about $100,000. James Hambro & Partners bought a new stake in Ericsson during the 4th quarter worth about $157,000. Gotham Asset Management LLC bought a new stake in Ericsson during the 4th quarter worth about $191,000. Verition Fund Management LLC bought a new stake in Ericsson during the 4th quarter worth about $205,000. Finally, Investors Research Corp bought a new stake in Ericsson during the 4th quarter worth about $398,000. 8.32% of the stock is owned by hedge funds and other institutional investors.

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Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

Earnings History for Ericsson (NASDAQ:ERIC)

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