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

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the four brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.70.

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of 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. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 16th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

NASDAQ ERIC traded down $0.08 on Tuesday, hitting $8.09. The company had a trading volume of 16,480,285 shares, compared to its average volume of 16,677,752. The company has a market capitalization of $26.96 billion, a PE ratio of -272.33 and a beta of 0.81. The company's fifty day moving average price is $7.84 and its 200-day moving average price is $6.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.56 and a 12-month high of $8.62.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. As a group, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 1,777 shares during the period. Profund Advisors LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider's stock worth $388,000 after buying an additional 1,823 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock worth $87,000 after buying an additional 2,024 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock worth $56,000 after buying an additional 2,458 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake 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 worth $34,000 after buying an additional 3,101 shares during the last quarter. 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.