Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a strong-buy rating to a buy rating in a report issued on Friday.

Separately, JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $7.62 on Friday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.90. 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 cap of $25.39 billion, a price-to-earnings ratio of -254.00 and a beta of 0.79. The company has a 50 day simple moving average of $8.23 and a 200 day simple moving average of $7.70.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently modified their holdings of the business. Diversified Trust Co raised its position in Telefonaktiebolaget LM Ericsson (publ) by 68.7% during the 4th quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock worth $2,772,000 after purchasing an additional 140,116 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% in the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 10,530 shares during the period. BNP Paribas Financial Markets raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after acquiring an additional 239,651 shares during the last quarter. US Bancorp DE lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock worth $1,374,000 after acquiring an additional 146,141 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $3,032,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

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.