Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Cut to Buy at StockNews.com

StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a strong-buy rating to a buy rating in a research note released on Friday.

Separately, JPMorgan Chase & Co. upped their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 14.4 %

ERIC opened at $7.62 on Friday. The stock has a fifty day moving average of $8.23 and a 200-day moving average of $7.72. The company has a market capitalization of $25.39 billion, a P/E ratio of -254.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ERIC. Alliance Wealth Advisors LLC UT acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $94,000. Caprock Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $1,169,000. First Affirmative Financial Network grew its position in Telefonaktiebolaget LM Ericsson (publ) by 4.7% in the fourth quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock valued at $324,000 after acquiring an additional 1,798 shares during the last quarter. Baron Wealth Management LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $122,000. Finally, Baldwin Wealth Partners LLC MA lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 187.6% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 51,916 shares of the communications equipment provider’s stock worth $418,000 after acquiring an additional 33,865 shares during the last quarter. 7.99% of the stock is owned by institutional investors.

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.