Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives Average Recommendation of “Hold” from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) has received an average rating of “Hold” from the twenty-one brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.33.

ERIC has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th. Societe Generale downgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “sell” rating in a research note on Monday, October 24th. Oddo Bhf downgraded Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to an “underperform” rating and set a SEK 60 target price on the stock. in a research note on Friday, October 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Telefonaktiebolaget LM Ericsson (publ) from SEK 80 to SEK 70 in a research note on Wednesday, November 9th. Finally, Barclays lowered their target price on Telefonaktiebolaget LM Ericsson (publ) from SEK 95 to SEK 85 in a research note on Monday, October 24th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $6.08 on Friday. The stock’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $7.07. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.16 and a 1-year high of $12.78. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 8.44 and a beta of 0.49.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 30th were given a dividend of $0.076 per share. The ex-dividend date was Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is presently 20.83%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently added to or reduced their stakes in the company. AGF Investments Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the 1st quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock valued at $39,531,000 after acquiring an additional 2,297,972 shares in the last quarter. BNP Paribas Arbitrage SNC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after acquiring an additional 32,373 shares in the last quarter. Credit Suisse AG raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 34.2% in the 3rd quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock valued at $28,247,000 after acquiring an additional 1,252,947 shares in the last quarter. George Kaiser Family Foundation raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 16.1% in the 3rd quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after acquiring an additional 39,876 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at approximately $1,847,000. Institutional investors and hedge funds own 8.53% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

(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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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