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

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been assigned a consensus recommendation of “Reduce” from the four analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $5.90.

ERIC has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a “neutral” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the fourth 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 during the period. Bank of Montreal Can grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after acquiring an additional 13,531,221 shares during the period. DigitalBridge Group Inc. increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the 2nd quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth $17,940,000. Finally, Acadian Asset Management LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $11,869,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.9 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.70 on Monday. The company has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $6.20. The stock has a market capitalization of $25.66 billion, a PE ratio of -7.78 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $7.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14.

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 for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.29 billion. On average, analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current fiscal 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.