Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.90 Consensus PT from Analysts

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been assigned an average rating of “Reduce” from the four ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.90.

Separately, JPMorgan Chase & Co. lifted 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter valued at $36,000. BOKF NA acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $41,000. NBC Securities Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 7,744 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $64,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $7.45 on Thursday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $7.48. The company’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $5.93. The company has a market capitalization of $24.83 billion, a price-to-earnings ratio of -7.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.35 EPS for the current year.

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.