Brokerages Set Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Target Price at $58.33

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) has earned an average rating of “Hold” from the twenty-one brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $58.33.

ERIC has been the topic of several recent analyst reports. Barclays decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 95 to SEK 85 in a research note on Monday, October 24th. Oddo Bhf lowered Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to an “underperform” rating and set a SEK 60 price target on the stock. in a research note on Friday, October 21st. JPMorgan Chase & Co. decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 125 to SEK 101 and set an “overweight” rating on the stock in a research note on Tuesday, November 1st. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Finally, Societe Generale lowered Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “sell” rating in a research note on Monday, October 24th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of ERIC stock opened at $6.15 on Friday. The stock’s fifty day simple moving average is $5.97 and its 200 day simple moving average is $7.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 8.54 and a beta of 0.49. Telefonaktiebolaget LM Ericsson has a one year low of $5.16 and a one year high of $12.78.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 30th were paid a dividend of $0.076 per share. The ex-dividend date was Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is presently 20.83%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SNC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after acquiring an additional 32,373 shares during the period. Credit Suisse AG increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 34.2% in the third quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock valued at $28,247,000 after purchasing an additional 1,252,947 shares during the last quarter. George Kaiser Family Foundation increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 16.1% in the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after purchasing an additional 39,876 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at about $1,847,000. Finally, AGF Investments Inc. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the first quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock valued at $39,531,000 after purchasing an additional 2,297,972 shares during the last quarter. Institutional investors and hedge funds own 8.53% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

(Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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