Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stock Rating Upgraded by 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.

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $5.10 on Friday. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of -7.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.92. The business has a fifty day moving average of $5.36 and a 200 day moving average of $5.35. 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, beating the consensus estimate 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 11.93% and a negative net margin of 9.75%. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at about $36,000. Planned Solutions Inc. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $38,000. NBC Securities Inc. lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 7,744 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $64,000. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in 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 buying an additional 3,201 shares in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

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.