Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Raised 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 sent to investors on Friday.

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly 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. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.93% and a negative net margin of 9.75%. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $7.04 billion. During the same quarter in the prior year, the company posted $0.20 EPS. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.4 EPS for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter valued at about $36,000. Planned Solutions Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $38,000. NBC Securities Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 7,744 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at $64,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after buying an additional 3,201 shares during the period. 7.99% of the stock is currently owned by institutional investors and hedge funds.

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.