Analysts Set Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Target Price at $5.90

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have earned an average rating of “Reduce” from the four ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.90.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the second 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 during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after buying an additional 4,351,420 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at approximately $17,940,000. Acadian Asset Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $11,869,000. Finally, Oppenheimer & Co. Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after buying an additional 819,083 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $7.70 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $25.66 billion, a PE ratio of -7.78 and a beta of 0.83. The stock’s 50 day moving average price is $7.15 and its 200-day moving average price is $6.22. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $7.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. On average, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

About Telefonaktiebolaget LM Ericsson (publ)

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.