Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded to Strong-Buy by StockNews.com

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

Separately, JPMorgan Chase & Co. upped their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC traded up $0.17 during midday trading on Tuesday, reaching $7.74. The stock had a trading volume of 15,798,294 shares, compared to its average volume of 16,805,070. The stock has a market capitalization of $25.79 billion, a P/E ratio of -7.82 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The firm’s fifty day simple moving average is $7.08 and its 200-day simple moving average is $6.18.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.29 billion. On average, equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently made changes to their positions in ERIC. Bank of Montreal Can raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after acquiring an additional 13,531,221 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.1% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after purchasing an additional 4,351,420 shares in the last quarter. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth $17,940,000. Acadian Asset Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $11,869,000. Finally, Oppenheimer & Co. Inc. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after buying an additional 819,083 shares during the period. Institutional investors 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.