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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given a consensus recommendation of “Reduce” by the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.90.

Separately, JPMorgan Chase & Co. raised their target price 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.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.57 on Monday. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of -7.65 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $7.65. The company’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $6.15. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results 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). The business had revenue of $5.60 billion for the quarter, compared to analyst estimates 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%. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 1.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock valued at $632,000 after purchasing an additional 1,777 shares in the last quarter. Profund Advisors LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after purchasing 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% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider’s stock worth $527,000 after purchasing an additional 2,000 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider’s stock worth $87,000 after purchasing an additional 2,024 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 2,268 shares in the last quarter. Hedge funds and other 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.