Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Average Recommendation of “Hold” by Brokerages

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) has been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $70.09.

ERIC has been the subject of several analyst reports. Cowen lowered their price objective on Telefonaktiebolaget LM Ericsson (publ) from $16.00 to $15.00 in a research report on Monday, April 18th. Barclays decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 160 to SEK 130 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 25th. Societe Generale reissued a “buy” rating and issued a SEK 121 target price (down previously from SEK 151) on shares of Telefonaktiebolaget LM Ericsson (publ) in a report on Thursday, February 17th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a SEK 125 price objective (up previously from SEK 123) on shares of Telefonaktiebolaget LM Ericsson (publ) in a report on Wednesday, January 26th.

ERIC stock opened at $7.96 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.47 and a quick ratio of 1.17. The business has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $10.33. The firm has a market capitalization of $26.54 billion, a PE ratio of 10.47 and a beta of 0.31. Telefonaktiebolaget LM Ericsson has a 1 year low of $7.57 and a 1 year high of $14.01.

Hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at about $158,270,000. Credit Suisse AG grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 623.1% during the third quarter. Credit Suisse AG now owns 5,544,682 shares of the communications equipment provider’s stock worth $62,101,000 after buying an additional 4,777,913 shares during the last quarter. Renaissance Group LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.2% during the third quarter. Renaissance Group LLC now owns 813,472 shares of the communications equipment provider’s stock worth $9,111,000 after buying an additional 47,420 shares during the last quarter. Madison Asset Management LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.7% during 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 during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.1% during the fourth quarter. Advisors Asset Management Inc. now owns 307,502 shares of the communications equipment provider’s stock worth $3,343,000 after buying an additional 17,678 shares during the last quarter.

Telefonaktiebolaget LM Ericsson (publ) Company Profile (Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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