Other equities analysts have also issued research reports about the stock. DZ Bank upgraded shares of Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating in a research report on Friday, September 20th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a strong sell rating to a sell rating in a research report on Wednesday, January 8th. ValuEngine lowered shares of Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating in a research report on Friday, January 3rd. Zacks Investment Research lowered shares of Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating and set a $9.50 target price for the company. in a research report on Monday, December 23rd. Finally, Canaccord Genuity upgraded shares of Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $9.97.
Shares of ERIC opened at $8.83 on Monday. The firm has a 50-day moving average price of $8.96 and a 200 day moving average price of $8.72. The firm has a market capitalization of $29.05 billion, a PE ratio of 294.33 and a beta of 0.55. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Telefonaktiebolaget LM Ericsson has a 52-week low of $7.58 and a 52-week high of $10.46.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its earnings results on Thursday, October 17th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.27). The company had revenue of $57.13 billion during the quarter, compared to the consensus estimate of $56.60 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 3.89% and a negative return on equity of 4.44%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.
Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 2nd quarter valued at about $94,000. Koshinski Asset Management Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 3rd quarter valued at about $83,000. Westwood Holdings Group Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 2nd quarter valued at about $118,000. Prospera Financial Services Inc bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 3rd quarter valued at about $99,000. Finally, Eaton Vance Management purchased a new stake in Telefonaktiebolaget LM Ericsson during the second quarter valued at about $149,000. Institutional investors own 8.06% of the company’s stock.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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