Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded to “Buy” at StockNews.com

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

ERIC has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. Finally, Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.04 on Friday, reaching $5.10. The company’s stock had a trading volume of 19,674,067 shares, compared to its average volume of 17,729,795. The company has a market capitalization of $16.98 billion, a P/E ratio of -7.29 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $6.36. The stock has a 50-day moving average price of $5.36 and a 200-day moving average price of $5.35. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.30.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.89% and a negative net margin of 9.75%. During the same period in the previous year, the business earned $0.20 earnings per share. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Affirmative Financial Network boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 2,268 shares during the last quarter. Aprio Wealth Management LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the 1st quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 2,609 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.6% in the 4th quarter. QRG Capital Management Inc. now owns 107,824 shares of the communications equipment provider’s stock valued at $679,000 after purchasing an additional 2,753 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 7.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 44,549 shares of the communications equipment provider’s stock valued at $245,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after purchasing an additional 3,201 shares during the last quarter. Institutional investors and hedge funds 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.