Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $6.70 Consensus PT from Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been assigned a consensus rating of “Sell” from the three research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and one has assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.70.

ERIC has been the subject of a number of analyst reports. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of 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.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.9 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.30 on Friday. The business has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $7.26. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.77 and a 12 month high of $8.62. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of -276.67 and a beta of 0.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after purchasing an additional 13,531,221 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at about $17,940,000. Two Sigma Advisers LP grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock worth $15,402,000 after buying an additional 2,020,200 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth approximately $11,869,000. Finally, DigitalBridge Group Inc. raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock valued at $30,961,000 after acquiring an additional 785,261 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

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.