Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded to “Buy” at StockNews.com

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. UBS Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock traded up $0.04 during trading hours on Friday, reaching $5.10. 19,674,067 shares of the company’s stock were exchanged, compared to its average volume of 17,729,795. The company has a market cap of $16.98 billion, a P/E ratio of -7.29 and a beta of 0.76. The company’s 50 day moving average is $5.36 and its two-hundred day moving average is $5.35. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.89% and a negative net margin of 9.75%. During the same period in the prior year, the business posted $0.20 EPS. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently made changes to their positions in ERIC. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth $36,000. Planned Solutions Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $38,000. NBC Securities Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $64,000. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 3,201 shares during the last quarter. 7.99% of the stock is owned by institutional investors and hedge funds.

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.