Credit Suisse Group Trims Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Target Price to SEK 120

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) had its price target dropped by investment analysts at Credit Suisse Group from SEK 134 to SEK 120 in a research note issued to investors on Thursday, The Fly reports.

ERIC has been the topic of a number of other research reports. DZ Bank lowered Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “hold” rating in a research note on Tuesday, March 1st. UBS Group upgraded Telefonaktiebolaget LM Ericsson (publ) from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Telefonaktiebolaget LM Ericsson (publ) from SEK 120 to SEK 100 and set a “hold” rating for the company in a report on Friday, March 18th. Societe Generale reissued a “buy” rating and set a SEK 121 target price (down previously from SEK 151) on shares of Telefonaktiebolaget LM Ericsson (publ) in a research report on Thursday, February 17th. Finally, Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a research report on Monday, December 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.31.

NASDAQ:ERIC traded down $0.08 during trading hours on Thursday, reaching $8.69. 128,911 shares of the company traded hands, compared to its average volume of 11,336,004. The firm’s 50-day moving average is $9.32 and its 200-day moving average is $10.51. The stock has a market cap of $28.97 billion, a P/E ratio of 11.43 and a beta of 0.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.10. Telefonaktiebolaget LM Ericsson has a 1-year low of $7.57 and a 1-year high of $14.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) last announced its earnings results on Tuesday, January 25th. The communications equipment provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.11. The firm had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 23.80% and a net margin of 9.47%. As a group, research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.82 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 13,287 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 1,880 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 7,083.3% in the third quarter. BNP Paribas Arbitrage SA now owns 15,516 shares of the communications equipment provider’s stock worth $174,000 after acquiring an additional 15,300 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth approximately $238,000. Atlas Capital Advisors LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 19.1% in the fourth quarter. Atlas Capital Advisors LLC now owns 43,667 shares of the communications equipment provider’s stock worth $475,000 after acquiring an additional 7,008 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth approximately $505,000.

About Telefonaktiebolaget LM Ericsson (publ) (Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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