Analysts Set Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target at $5.90

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has been given an average rating of “Reduce” by the four research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.90.

Several analysts recently issued reports on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a report on Monday, July 15th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently made changes to their positions in ERIC. Advisors Asset Management Inc. grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 4.4% during the 1st quarter. Advisors Asset Management Inc. now owns 190,065 shares of the communications equipment provider’s stock valued at $1,047,000 after buying an additional 8,086 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after purchasing an additional 819,083 shares during the last quarter. First Affirmative Financial Network raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 2,268 shares in the last quarter. QRG Capital Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 176.2% during the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after purchasing an additional 120,072 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after buying an additional 584,201 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $7.70 on Monday. The firm’s 50 day simple moving average is $7.12 and its two-hundred day simple moving average is $6.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The company has a market capitalization of $25.66 billion, a P/E ratio of -7.78 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal year.

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.