Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $8.90 to $9.80 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the communications equipment provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 31.54% from the stock's current price.
Separately, StockNews.com downgraded Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Friday, January 24th.
Read Our Latest Research Report on Telefonaktiebolaget LM Ericsson (publ)
Telefonaktiebolaget LM Ericsson (publ) Price Performance
NASDAQ:ERIC traded up $0.16 during trading hours on Friday, reaching $7.45. 42,233,627 shares of the company traded hands, compared to its average volume of 18,022,383. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The firm's 50-day moving average is $7.87 and its 200-day moving average is $8.03. The stock has a market cap of $24.83 billion, a P/E ratio of -745,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)
A number of institutional investors have recently bought and sold shares of ERIC. Minot DeBlois Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $35,000. GeoWealth Management LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth $36,000. Smartleaf Asset Management LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after acquiring an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at about $77,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $81,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.
Telefonaktiebolaget LM Ericsson (publ) Company Profile
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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.
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