The Goldman Sachs Group Lowers Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) to Sell

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) was downgraded by The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report released on Monday, The Fly reports.

A number of other equities analysts have also recently issued reports on ERIC. Morgan Stanley assumed coverage on Telefonaktiebolaget LM Ericsson (publ) in a report on Tuesday, November 8th. They issued an “equal weight” rating for the company. Cowen reduced their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday. DNB Markets lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “hold” rating in a report on Monday, January 16th. Finally, Barclays lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 90 in a research note on Tuesday, December 13th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus price target of $69.21.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.73 on Monday. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $5.16 and a fifty-two week high of $12.78. The firm’s fifty day moving average price is $6.09 and its 200-day moving average price is $6.49. The stock has a market cap of $19.08 billion, a P/E ratio of 10.42 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 1.19.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently modified their holdings of ERIC. BNP Paribas Arbitrage SNC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after acquiring an additional 32,373 shares during the last quarter. George Kaiser Family Foundation boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after buying an additional 39,876 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth approximately $1,847,000. Finally, Credit Suisse AG raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 34.2% in the third quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock worth $28,247,000 after buying an additional 1,252,947 shares during the period. Institutional investors own 7.94% of the company’s stock.

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.

Read More

The Fly logo

Analyst Recommendations for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Receive News & Ratings for Telefonaktiebolaget LM Ericsson (publ) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson (publ) and related companies with MarketBeat.com's FREE daily email newsletter.