Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Issues Earnings Results

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC traded down $1.02 on Friday, reaching $7.89. The company’s stock had a trading volume of 8,269,693 shares, compared to its average volume of 15,598,141. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The stock has a market capitalization of $26.28 billion, a P/E ratio of -263.23 and a beta of 0.79. The stock’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $7.69. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90.

Analyst Ratings Changes

ERIC has been the subject of a number of research reports. JPMorgan Chase & Co. boosted 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 note on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th.

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.