Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a neutral rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.9 %

NASDAQ ERIC opened at $7.77 on Tuesday. The stock’s 50 day simple moving average is $7.10 and its 200 day simple moving average is $6.19. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $7.83. The firm has a market cap of $25.89 billion, a PE ratio of -7.85 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90.

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

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently made changes to their positions in ERIC. Cavalry Management Group LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 31.5% during the 2nd quarter. Cavalry Management Group LLC now owns 114,383 shares of the communications equipment provider’s stock worth $706,000 after purchasing an additional 27,426 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $81,000. Millennium Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $2,896,000. DigitalBridge Group Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after buying an additional 785,261 shares during the period. Finally, AQR Capital Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $592,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

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.