Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives Average Rating of “Reduce” from Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have received an average recommendation of “Reduce” from the four analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.70.

A number of brokerages have recently weighed in on ERIC. JPMorgan Chase & Co. lifted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.4 %

Shares of ERIC opened at $7.97 on Tuesday. The firm’s 50-day moving average price is $7.89 and its 200-day moving average price is $6.89. The firm has a market capitalization of $26.56 billion, a price-to-earnings ratio of -265.67 and a beta of 0.81. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after acquiring an additional 1,777 shares in the last quarter. Profund Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock worth $388,000 after acquiring an additional 1,823 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the third quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock worth $264,000 after acquiring an additional 1,866 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 2,024 shares in the last quarter. Finally, Pitcairn Co. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock worth $135,000 after buying an additional 2,279 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.