Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Large Volume Increase

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually-strong trading volume on Tuesday . Approximately 1,088,017 shares traded hands during trading, a decline of 83% from the previous session’s volume of 6,338,608 shares.The stock last traded at $10.19 and had previously closed at $10.14.

Several analysts recently issued reports on ERIC shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Telefonaktiebolaget LM Ericsson (publ) in a report on Wednesday, October 20th. Barclays reissued an “overweight” rating on shares of Telefonaktiebolaget LM Ericsson (publ) in a report on Friday, October 8th. Cowen reduced their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 20th. Raymond James reduced their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, October 20th. Finally, Bank of America assumed coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a report on Monday, October 25th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and an average target price of $15.26.

The business’s fifty day moving average price is $11.24 and its 200 day moving average price is $12.00. The company has a market capitalization of $34.81 billion, a P/E ratio of 14.91 and a beta of 0.29. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Monday, October 18th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $56.30 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 8.71% and a return on equity of 23.66%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.71 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 7,083.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,516 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 15,300 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth about $238,000. Atlas Capital Advisors LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.2% during the 2nd quarter. Atlas Capital Advisors LLC now owns 39,485 shares of the communications equipment provider’s stock worth $497,000 after purchasing an additional 1,218 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth about $505,000. Finally, FinTrust Capital Advisors LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.3% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 226,440 shares of the communications equipment provider’s stock worth $2,849,000 after purchasing an additional 11,343 shares in the last quarter. Institutional investors and hedge funds own 8.61% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offer hardware, software and related services for both radio access and transport.

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