Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Average Recommendation of “Reduce” by Brokerages

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been assigned an average rating of “Reduce” from the five brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.58.

Several brokerages recently weighed in on ERIC. JPMorgan Chase & Co. decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. UBS Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC opened at $5.24 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The firm has a market cap of $17.45 billion, a PE ratio of -7.49 and a beta of 0.76. The company’s 50 day simple moving average is $5.36 and its 200-day simple moving average is $5.36. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same period last year, the company earned $0.20 earnings per share. As a group, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after buying an additional 3,201 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 22.0% during the 4th quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock worth $152,000 after buying an additional 4,351 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 12.6% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 95,377 shares of the communications equipment provider’s stock worth $601,000 after buying an additional 10,638 shares during the last quarter. 626 Financial LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $72,000. Finally, Planned Solutions Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $38,000. Institutional investors and hedge funds 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.