Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Consensus Rating of “Reduce” by Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been assigned a consensus rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.58.

ERIC has been the subject of a number of recent research reports. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. UBS Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 31st. Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 412.9% in 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 acquiring an additional 290,949 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after acquiring an additional 3,201 shares during the period. Pinnacle Associates Ltd. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 186.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 47,858 shares of the communications equipment provider’s stock valued at $302,000 after acquiring an additional 31,135 shares during the period. Planned Solutions Inc. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $38,000. Finally, Ritholtz Wealth Management grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.9% in the fourth quarter. Ritholtz Wealth Management now owns 138,121 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 12,391 shares during the period. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.8 %

ERIC stock opened at $5.24 on Friday. The company has a market cap of $17.45 billion, a P/E ratio of -7.49 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $5.36 and a 200-day moving average of $5.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share 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 quarter in the previous year, the company posted $0.20 earnings per share. As a group, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

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.