Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives Average Recommendation of "Reduce" from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) has been assigned an average rating of "Reduce" from the four ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.70.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a "neutral" rating in a report on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently modified their holdings of ERIC. Bank of Montreal Can boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider's stock valued at $83,788,000 after buying an additional 13,531,221 shares in the last quarter. DigitalBridge Group Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% during 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 acquiring an additional 785,261 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at $17,940,000. FMR LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider's stock worth $18,287,000 after purchasing an additional 463,415 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the 3rd quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider's stock worth $15,402,000 after purchasing an additional 2,020,200 shares in the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.12 during mid-day trading on Friday, reaching $8.33. The company had a trading volume of 11,704,485 shares, compared to its average volume of 17,519,274. The company has a 50 day moving average of $8.11 and a 200-day moving average of $7.19. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.62. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $27.76 billion, a price-to-earnings ratio of -277.67 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The business had revenue of $5.93 billion during the quarter, compared to analysts' expectations of $5.73 billion. On average, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 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.