Brokerages Set Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Price Target at $10.08

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.08.

A number of research firms recently commented on ERIC. Charter Equity upgraded Telefonaktiebolaget LM Ericsson from a “market perform” rating to a “buy” rating in a report on Friday. Goldman Sachs Group upgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “conviction-buy” rating and set a $11.50 price target for the company in a report on Monday, July 29th. TheStreet cut Telefonaktiebolaget LM Ericsson from a “b” rating to a “c” rating in a report on Monday, August 19th. New Street Research began coverage on Telefonaktiebolaget LM Ericsson in a report on Friday. They set a “neutral” rating for the company. Finally, Canaccord Genuity upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st.

Shares of NASDAQ ERIC traded up $0.13 during mid-day trading on Friday, hitting $9.19. The company had a trading volume of 527,112 shares, compared to its average volume of 5,747,112. Telefonaktiebolaget LM Ericsson has a one year low of $7.58 and a one year high of $10.46. The company has a current ratio of 1.42, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $29.80 billion, a PE ratio of 306.33 and a beta of 0.54. The firm has a 50-day simple moving average of $8.08 and a two-hundred day simple moving average of $9.04.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Thursday, October 17th. The communications equipment provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.27). Telefonaktiebolaget LM Ericsson had a return on equity of 6.37% and a net margin of 0.16%. The business had revenue of $57.13 billion for the quarter, compared to the consensus estimate of $56.60 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.35 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ERIC. FMR LLC lifted its position in Telefonaktiebolaget LM Ericsson by 124.1% during the first quarter. FMR LLC now owns 11,266,731 shares of the communications equipment provider’s stock worth $103,429,000 after acquiring an additional 6,239,848 shares during the last quarter. Renaissance Technologies LLC lifted its position in Telefonaktiebolaget LM Ericsson by 10.7% during the second quarter. Renaissance Technologies LLC now owns 23,362,900 shares of the communications equipment provider’s stock worth $221,948,000 after acquiring an additional 2,259,100 shares during the last quarter. Morgan Stanley lifted its position in Telefonaktiebolaget LM Ericsson by 69.8% during the second quarter. Morgan Stanley now owns 2,436,475 shares of the communications equipment provider’s stock worth $23,145,000 after acquiring an additional 1,001,417 shares during the last quarter. Bank of America Corp DE lifted its position in Telefonaktiebolaget LM Ericsson by 48.0% during the second quarter. Bank of America Corp DE now owns 2,553,876 shares of the communications equipment provider’s stock worth $24,262,000 after acquiring an additional 827,740 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Telefonaktiebolaget LM Ericsson during the second quarter worth approximately $5,277,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

Telefonaktiebolaget LM Ericsson Company Profile

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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