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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given a consensus rating of “Reduce” by the four brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment 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 brokers that have updated their coverage on the stock in the last year is $6.70.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 3,101 shares during the period. Hexagon Capital Partners LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 3,924 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at approximately $36,000. BOKF NA acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $41,000. Finally, Vest Financial LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth approximately $77,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.1 %

NASDAQ:ERIC opened at $8.06 on Tuesday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.62. The stock has a market cap of $26.86 billion, a P/E ratio of -268.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a 50-day simple moving average of $7.91 and a 200-day simple moving average of $6.93.

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

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.