Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Receives Average Recommendation of “Buy” from Brokerages

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have been given a consensus recommendation of “Buy” by the fourteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $10.07.

A number of analysts recently weighed in on the stock. Canaccord Genuity raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. ValuEngine raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Tuesday, November 19th. New Street Research assumed coverage on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, October 18th. They issued a “neutral” rating on the stock. Finally, TheStreet cut shares of Telefonaktiebolaget LM Ericsson from a “b” rating to a “c” rating in a report on Monday, August 19th.

Shares of NASDAQ:ERIC traded up $0.09 on Monday, reaching $9.23. 6,137,510 shares of the company’s stock were exchanged, compared to its average volume of 6,084,515. The firm has a market capitalization of $30.51 billion, a price-to-earnings ratio of 307.67 and a beta of 0.56. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $7.58 and a fifty-two week high of $10.46. The business’s 50-day moving average is $9.02 and its two-hundred day moving average is $8.88. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Thursday, October 17th. The communications equipment provider reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.27). The business had revenue of $57.13 billion for the quarter, compared to analyst estimates of $56.60 billion. Telefonaktiebolaget LM Ericsson had a negative return on equity of 4.44% and a negative net margin of 3.89%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. Analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its position in Telefonaktiebolaget LM Ericsson by 578.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,282 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 2,798 shares in the last quarter. Synovus Financial Corp grew its position in 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 buying an additional 2,000 shares in the last quarter. Coastal Investment Advisors Inc. grew its position in 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 buying an additional 2,549 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Telefonaktiebolaget LM Ericsson in the 3rd quarter valued at about $83,000. Finally, Pacer Advisors Inc. bought a new position in Telefonaktiebolaget LM Ericsson in the 2nd quarter valued at about $94,000. 8.06% of the stock is currently owned by institutional investors and hedge funds.

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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