Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Consensus Rating of “Sell” by Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have earned a consensus recommendation of “Sell” from the three brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.70.

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.6 %

Shares of NASDAQ:ERIC opened at $8.27 on Friday. The company has a 50 day moving average price of $8.14 and a two-hundred day moving average price of $7.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The company has a market capitalization of $27.56 billion, a PE ratio of -275.00 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.77 and a 52 week high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The company had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 3,101 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares during the last quarter. BOKF NA bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 2,458 shares during the last quarter. Finally, Vest Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at $77,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

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.