Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a hold rating to a buy rating in a research report released on Friday.

A number of other brokerages also recently issued reports on ERIC. JPMorgan Chase & Co. dropped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an equal weight rating to an underweight rating in a research report on Friday, January 19th. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a d+ rating to a c- rating in a report on Tuesday, January 9th. Finally, UBS Group lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a neutral rating to a sell rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 3.1 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.26 on Friday. The firm has a market capitalization of $17.52 billion, a PE ratio of -7.51 and a beta of 0.76. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $5.36 and its 200 day moving average is $5.36. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. During the same period last year, the company earned $0.20 earnings per share. Equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of large investors have recently modified their holdings of ERIC. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after acquiring an additional 4,351,420 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after buying an additional 819,083 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after buying an additional 290,949 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 32.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,164 shares of the communications equipment provider’s stock valued at $3,617,000 after acquiring an additional 140,462 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $584,000. Institutional investors 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.