Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives Consensus Rating of "Reduce" from Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the four ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.90.

Separately, JPMorgan Chase & Co. increased 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 note on Monday, July 15th.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider's stock valued at $1,047,000 after purchasing an additional 8,086 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider's stock worth $5,265,000 after buying an additional 819,083 shares in the last quarter. First Affirmative Financial Network boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider's stock valued at $145,000 after acquiring an additional 2,268 shares during the period. QRG Capital Management Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider's stock valued at $1,161,000 after acquiring an additional 120,072 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% during the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider's stock worth $3,890,000 after acquiring an additional 584,201 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.3 %

ERIC traded up $0.02 on Thursday, hitting $7.43. 14,329,123 shares of the company were exchanged, compared to its average volume of 16,877,354. The stock's fifty day moving average is $6.65 and its 200-day moving average is $5.91. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $7.48. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market cap of $24.76 billion, a PE ratio of -7.51 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. Equities research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.35 EPS 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.