Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Average Recommendation of “Sell” by Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have received a consensus rating of “Sell” from the three brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.70.

A number of analysts have weighed in on ERIC shares. JPMorgan Chase & Co. boosted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC opened at $8.30 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The firm has a market cap of $27.66 billion, a PE ratio of -276.67 and a beta of 0.79. The firm’s 50 day moving average price is $8.19 and its 200 day moving average price is $7.26. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. As a group, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 3,101 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. BOKF NA bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 2,458 shares during the last quarter. Finally, Vest Financial LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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.