Several other equities analysts have also issued reports on ERIC. Raymond James upgraded shares of Telefonaktiebolaget LM Ericsson from an underperform rating to a market perform rating in a report on Thursday, December 20th. Zacks Investment Research reiterated a hold rating on shares of Telefonaktiebolaget LM Ericsson in a report on Monday, December 31st. Finally, ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a buy rating to a strong-buy rating in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $8.54.
Shares of ERIC opened at $9.68 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.45 and a debt-to-equity ratio of 0.35. Telefonaktiebolaget LM Ericsson has a one year low of $6.34 and a one year high of $9.89. The stock has a market capitalization of $31.91 billion, a price-to-earnings ratio of 322.67, a P/E/G ratio of 0.74 and a beta of 0.52.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 25th. The communications equipment provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a positive return on equity of 1.32% and a negative net margin of 2.91%. The company had revenue of $63.80 billion during the quarter, compared to analysts’ expectations of $61.50 billion. During the same quarter last year, the business earned ($1.19) earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the first quarter valued at approximately $36,000. Contravisory Investment Management Inc. purchased a new position in Telefonaktiebolaget LM Ericsson in the 1st quarter worth approximately $52,000. Deutsche Bank AG raised its holdings in Telefonaktiebolaget LM Ericsson by 284.9% in the 4th quarter. Deutsche Bank AG now owns 2,578,370 shares of the communications equipment provider’s stock worth $22,870,000 after acquiring an additional 1,908,410 shares during the last quarter. FMR LLC raised its holdings in Telefonaktiebolaget LM Ericsson by 34.8% in the 4th quarter. FMR LLC now owns 5,026,883 shares of the communications equipment provider’s stock worth $44,588,000 after acquiring an additional 1,297,237 shares during the last quarter. Finally, Cypress Capital Group purchased a new position in Telefonaktiebolaget LM Ericsson in the 4th quarter worth approximately $153,000. Hedge funds and other institutional investors own 7.73% of the company’s stock.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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