Ericsson (NASDAQ:ERIC) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets restated a “hold” rating on shares of Ericsson in a research report on Friday. Cowen upgraded Ericsson from an “underperform” rating to a “market perform” rating and raised their price target for the company from $3.00 to $7.00 in a research report on Friday. Canaccord Genuity reiterated a “hold” rating and issued a $6.00 price objective (down previously from $6.50) on shares of Ericsson in a report on Thursday, February 1st. Berenberg Bank started coverage on Ericsson in a report on Wednesday, April 11th. They issued a “hold” rating on the stock. Finally, BidaskClub downgraded Ericsson from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.91.

NASDAQ ERIC opened at $7.78 on Friday. Ericsson has a twelve month low of $5.52 and a twelve month high of $7.93. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30. The stock has a market cap of $21,238.54, a price-to-earnings ratio of -16.55 and a beta of 0.82.

Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Friday, April 20th. The communications equipment provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. Ericsson had a negative return on equity of 11.30% and a negative net margin of 17.57%. The business had revenue of $43.40 billion for the quarter, compared to the consensus estimate of $43.59 billion. During the same quarter last year, the business posted ($2.42) earnings per share. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. analysts predict that Ericsson will post 0.05 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its holdings in shares of Ericsson by 79.0% in the fourth quarter. Eqis Capital Management Inc. now owns 142,488 shares of the communications equipment provider’s stock worth $952,000 after buying an additional 62,864 shares during the period. James Hambro & Partners purchased a new position in shares of Ericsson in the fourth quarter worth about $157,000. Investors Research Corp purchased a new position in shares of Ericsson in the fourth quarter worth about $398,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Ericsson in the fourth quarter worth about $5,601,000. Finally, Virtu Financial LLC increased its holdings in shares of Ericsson by 133.1% in the fourth quarter. Virtu Financial LLC now owns 86,328 shares of the communications equipment provider’s stock worth $577,000 after buying an additional 49,291 shares during the period. Hedge funds and other institutional investors own 8.32% of the company’s stock.

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About Ericsson

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

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