Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $6.70 Consensus Target Price from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given an average rating of “Reduce” by the four brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.70.

ERIC has been the subject of several analyst reports. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of 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) Trading Up 0.1 %

NASDAQ:ERIC opened at $8.00 on Tuesday. The firm has a market capitalization of $26.66 billion, a P/E ratio of -266.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.62. The company’s 50-day simple moving average is $7.87 and its 200 day simple moving average is $6.86.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued 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. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its position 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 worth $83,788,000 after buying an additional 13,531,221 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $17,940,000. Acadian Asset Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $11,869,000. DigitalBridge Group Inc. boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after purchasing an additional 785,261 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after purchasing an additional 584,201 shares during the period. 7.99% of the stock is owned by institutional investors.

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.