Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives Average Rating of “Reduce” from Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been assigned a consensus recommendation of “Reduce” from the four research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.90.

Separately, JPMorgan Chase & Co. increased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a report on Monday, July 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings 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 valued at $34,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at about $36,000. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at about $41,000. NBC Securities Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares during the last quarter. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $64,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ ERIC opened at $7.57 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.65. The firm has a market capitalization of $25.23 billion, a P/E ratio of -7.65 and a beta of 0.83. The business’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $6.15.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (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 during the quarter, compared to analyst estimates of $5.29 billion. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

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.