Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 12-Month High at $7.49

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.49 and last traded at $7.44, with a volume of 11747509 shares trading hands. The stock had previously closed at $7.36.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The business’s 50-day moving average is $6.98 and its 200 day moving average is $6.11. The firm has a market capitalization of $24.63 billion, a P/E ratio of -7.42 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate 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 business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. As a group, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its position in Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after purchasing an additional 1,777 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after purchasing an additional 1,823 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after buying an additional 2,000 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of 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. Finally, First Affirmative Financial Network boosted its stake in 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 buying an additional 2,268 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

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.