Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) posted its quarterly earnings data on Friday. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04), Zacks reports. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC stock traded down $1.02 during mid-day trading on Friday, reaching $7.89. The stock had a trading volume of 8,269,693 shares, compared to its average volume of 15,598,141. The company has a market cap of $26.28 billion, a P/E ratio of -263.23 and a beta of 0.79. The business has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $7.69. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ERIC shares. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st.

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.