BNP Paribas upgraded shares of Ericsson (NASDAQ:ERIC) from a neutral rating to an outperform rating in a research report sent to investors on Thursday morning.

ERIC has been the topic of several other reports. BidaskClub downgraded Ericsson from a buy rating to a hold rating in a report on Saturday, August 12th. J P Morgan Chase & Co restated a neutral rating on shares of Ericsson in a report on Saturday, August 26th. Canaccord Genuity restated a neutral – hold rating and set a $7.00 price objective on shares of Ericsson in a report on Friday, June 30th. Citigroup Inc. began coverage on Ericsson in a report on Thursday, June 8th. They set a buy rating on the stock. Finally, Societe Generale began coverage on Ericsson in a report on Wednesday, June 14th. They set a hold rating on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $5.76.

Ericsson (NASDAQ:ERIC) traded down 0.18% during mid-day trading on Thursday, hitting $5.67. 7,322,592 shares of the company were exchanged. Ericsson has a 12 month low of $4.83 and a 12 month high of $7.47.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data 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 return on equity of 3.16% and a negative net margin of 6.40%. The business had revenue of $49.90 billion for the quarter, compared to analysts’ expectations of $50.66 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Ericsson’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts forecast that Ericsson will post $0.23 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in Ericsson during the 1st quarter valued at approximately $106,000. Mackenzie Financial Corp acquired a new position in Ericsson during the 1st quarter valued at approximately $109,000. GenTrust LLC acquired a new position in Ericsson during the 2nd quarter valued at approximately $120,000. Boyd Watterson Asset Management LLC OH boosted its position in Ericsson by 1.0% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 18,092 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 174 shares during the period. Finally, Ronald Blue & Co. LLC boosted its position in Ericsson by 7.0% during the 2nd quarter. Ronald Blue & Co. LLC now owns 19,716 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 1,283 shares during the period. Institutional investors and hedge funds own 7.95% of the company’s stock.

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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