Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Raised to Buy at DZ Bank

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was upgraded by equities research analysts at DZ Bank from a “hold” rating to a “buy” rating in a note issued to investors on Friday, BenzingaRatingsTable reports.

Several other research firms have also recently weighed in on ERIC. New Street Research cut shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 29th. TheStreet cut shares of Telefonaktiebolaget LM Ericsson from a “b” rating to a “c” rating in a research report on Monday, August 19th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “sell” rating in a research report on Friday. Credit Suisse Group upgraded shares of Telefonaktiebolaget LM Ericsson from a “neutral” rating to an “outperform” rating and set a $9.98 price objective on the stock in a research report on Friday, May 24th. Finally, Cowen reiterated a “hold” rating and set a $9.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.89.

Telefonaktiebolaget LM Ericsson stock traded up $0.18 during mid-day trading on Friday, hitting $8.37. The company’s stock had a trading volume of 967,722 shares, compared to its average volume of 6,545,202. The company has a quick ratio of 1.11, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $26.61 billion, a P/E ratio of 278.83 and a beta of 0.53. Telefonaktiebolaget LM Ericsson has a twelve month low of $7.58 and a twelve month high of $10.46. The stock’s fifty day moving average price is $8.22 and its two-hundred day moving average price is $9.21.



Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Wednesday, July 17th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Telefonaktiebolaget LM Ericsson had a return on equity of 6.37% and a net margin of 0.16%. The business had revenue of $54.80 billion during the quarter, compared to analyst estimates of $53.25 billion. During the same quarter last year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.36 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 578.1% during the 2nd quarter. Advisory Services Network LLC now owns 3,282 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 2,798 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Telefonaktiebolaget LM Ericsson by 129.2% in the 2nd quarter. Synovus Financial Corp now owns 3,548 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. Coastal Investment Advisors Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson by 188.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,899 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 2,549 shares during the last quarter. Canton Hathaway LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson by 30.5% in the 2nd quarter. Canton Hathaway LLC now owns 5,220 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the 2nd quarter valued at $94,000. Institutional investors and hedge funds own 8.13% 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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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