Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.90 Average Target Price from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given an average rating of “Reduce” by the four ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.90.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research note on Monday, July 15th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $7.43 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $7.48. The company’s 50 day moving average is $6.79 and its 200 day moving average is $5.98. The company has a market cap of $24.76 billion, a PE ratio of -7.51 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. On average, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at $36,000. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $41,000. Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $64,000. Finally, NBC Securities Inc. raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 7,744 shares during the last quarter. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

About Telefonaktiebolaget LM Ericsson (publ)

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.