Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Posts Quarterly Earnings Results, Meets Estimates

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) issued its earnings results on Friday. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20, reports. The firm had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $8.03 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 6.86% and a return on equity of 16.09%.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock traded up $0.16 during trading on Monday, hitting $5.84. 13,060,527 shares of the company’s stock traded hands, compared to its average volume of 12,107,345. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.16 and a 52 week high of $12.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 1.17. The business has a fifty day simple moving average of $6.11 and a 200 day simple moving average of $6.51. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 10.60 and a beta of 0.54.

Analysts Set New Price Targets

ERIC has been the subject of several research reports. StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “hold” rating in a report on Monday, January 16th. Oddo Bhf cut shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to an “underperform” rating and set a SEK 60 target price for the company. in a report on Friday, October 21st. Societe Generale upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 55 to SEK 64 in a report on Friday, December 9th. Barclays upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 90 in a report on Tuesday, December 13th. Finally, BNP Paribas cut shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 10th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.21.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SNC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after acquiring an additional 32,373 shares during the period. Credit Suisse AG raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 34.2% in the third quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock valued at $28,247,000 after acquiring an additional 1,252,947 shares during the period. George Kaiser Family Foundation increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 16.1% in the 3rd quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock worth $1,646,000 after buying an additional 39,876 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth about $1,847,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.