Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.90 Consensus Target Price from Brokerages

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has received an average rating of “Reduce” from the four ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $5.90.

ERIC has been the topic of several research reports. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target 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.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth $36,000. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $41,000. Lake Street Advisors Group LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $64,000. Finally, NBC Securities Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 7,744 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.9 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.70 on Monday. The firm has a market capitalization of $25.66 billion, a PE ratio of -7.78 and a beta of 0.83. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $7.15 and its 200 day moving average is $6.22. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $7.83.

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

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.