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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has earned a consensus rating of “Reduce” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.58.

A number of brokerages have weighed in on ERIC. JPMorgan Chase & Co. dropped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

Shares of NASDAQ ERIC opened at $5.91 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $5.59 and its two-hundred day moving average price is $5.64. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36. The stock has a market capitalization of $19.68 billion, a P/E ratio of -8.44 and a beta of 0.82.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.33 billion. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently made changes to their positions in ERIC. Hotchkis & Wiley Capital Management LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after buying an additional 4,351,420 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after acquiring an additional 819,083 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% during the 1st quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider’s stock worth $4,100,000 after acquiring an additional 692,804 shares during the period. Azzad Asset Management Inc. ADV grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 576,227 shares of the communications equipment provider’s stock worth $3,175,000 after purchasing an additional 10,935 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 32.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,164 shares of the communications equipment provider’s stock valued at $3,617,000 after purchasing an additional 140,462 shares during the period. 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.