Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Posts Earnings Results, Misses Estimates By $0.04 EPS

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) announced its quarterly earnings results on Friday. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04), Zacks reports. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.94 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The company has a market capitalization of $26.44 billion, a PE ratio of -264.50 and a beta of 0.79. The company has a 50 day moving average price of $8.22 and a 200-day moving average price of $7.69. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.90.

Analysts Set New Price Targets

ERIC has been the subject of several research 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. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st.

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.