Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Unusually-High Trading Volume

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually-strong trading volume on Thursday . Approximately 263,351 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 4,742,871 shares.The stock last traded at $11.44 and had previously closed at $11.41.

A number of equities analysts have commented on ERIC shares. Barclays reaffirmed an “overweight” rating on shares of Telefonaktiebolaget LM Ericsson (publ) in a research note on Friday, October 8th. Morgan Stanley began coverage on Telefonaktiebolaget LM Ericsson (publ) in a research report on Monday, December 20th. They issued an “equal weight” rating and a $13.00 price objective on the stock. Raymond James cut their price objective on Telefonaktiebolaget LM Ericsson (publ) from $14.50 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 20th. Cowen cut their price objective on Telefonaktiebolaget LM Ericsson (publ) from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 20th. Finally, Bank of America assumed coverage on Telefonaktiebolaget LM Ericsson (publ) in a research report on Monday, October 25th. They set an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and an average price target of $14.00.

The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $10.70 and a 200 day simple moving average of $11.38. The firm has a market capitalization of $37.87 billion, a P/E ratio of 16.23 and a beta of 0.31.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Monday, October 18th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 23.66% and a net margin of 8.71%. The firm had revenue of $56.30 billion during the quarter, compared to analysts’ expectations of $58.16 billion. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.69 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 7,083.3% in the third quarter. BNP Paribas Arbitrage SA now owns 15,516 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 15,300 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at $238,000. Russell Investments Group Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at $505,000. FinTrust Capital Advisors LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 5.3% in the second quarter. FinTrust Capital Advisors LLC now owns 226,440 shares of the communications equipment provider’s stock worth $2,849,000 after buying an additional 11,343 shares in the last quarter. Finally, Madison Asset Management LLC increased its position in Telefonaktiebolaget LM Ericsson (publ) by 1.7% in the third quarter. Madison Asset Management LLC now owns 359,913 shares of the communications equipment provider’s stock worth $4,031,000 after buying an additional 5,952 shares in the last quarter. Hedge funds and other institutional investors own 8.78% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offer hardware, software and related services for both radio access and transport.

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