Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.58 Consensus Target Price from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given a consensus recommendation of “Reduce” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.58.

ERIC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target 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 Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently added to or reduced their stakes in ERIC. First Affirmative Financial Network grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 22.0% during the 4th quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 4,351 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 12.6% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock valued at $601,000 after purchasing an additional 10,638 shares during the last quarter. 626 Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at $72,000. Planned Solutions Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth $38,000. Finally, Ritholtz Wealth Management raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.9% in the fourth quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 12,391 shares during the period. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $6.68 on Wednesday. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $6.74. 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 business has a 50 day moving average price of $5.97 and a 200-day moving average price of $5.68. The company has a market cap of $22.26 billion, a PE ratio of -6.75 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. Equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.38 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.