Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Downgraded to Buy Rating by StockNews.com

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, JPMorgan Chase & Co. boosted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a report on Monday, October 21st.

Check Out Our Latest Stock Analysis on ERIC

Telefonaktiebolaget LM Ericsson (publ) Stock Down 14.4 %

Shares of ERIC stock traded down $1.28 on Friday, reaching $7.62. 43,117,757 shares of the company were exchanged, compared to its average volume of 17,971,066. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. The company has a market cap of $25.39 billion, a price-to-earnings ratio of -254.00 and a beta of 0.79. The company has a 50-day moving average of $8.23 and a 200-day moving average of $7.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last released its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after purchasing an additional 2,020,200 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% during the 2nd quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock valued at $11,711,000 after buying an additional 535,933 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at $3,027,000. Millennium Management LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $2,896,000. Finally, FMR LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 23.8% in the 3rd quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock worth $18,287,000 after acquiring an additional 463,415 shares during the last quarter. 7.99% of the stock is owned by institutional investors.

About Telefonaktiebolaget LM Ericsson (publ)

(Get Free Report)

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.

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