Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) released its quarterly earnings results on Friday. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04), Zacks reports. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 14.4 %

ERIC opened at $7.62 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. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90. The business has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $7.70.

Analysts Set New Price Targets

ERIC has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective 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 downgraded Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.