Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded at StockNews.com

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

Separately, JPMorgan Chase & Co. upped their price objective on shares of 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 analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.17 during midday trading on Tuesday, hitting $7.74. 15,798,294 shares of the company were exchanged, compared to its average volume of 16,805,070. The firm has a 50 day simple moving average of $7.08 and a 200-day simple moving average of $6.18. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $7.75. The firm has a market cap of $25.79 billion, a P/E ratio of -7.82 and a beta of 0.83. 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 (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently added to or reduced their stakes in ERIC. Mercer Global Advisors Inc. ADV raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after acquiring an additional 1,777 shares during the last quarter. Profund Advisors LLC boosted its position in 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 buying an additional 1,823 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock valued at $527,000 after buying an additional 2,000 shares during the period. Dynamic Advisor Solutions LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 2,024 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 2,268 shares during the period. Institutional investors 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.