Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stock Rating Upgraded by StockNews.com

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Separately, JPMorgan Chase & Co. lifted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ ERIC opened at $7.70 on Tuesday. The firm has a market capitalization of $25.66 billion, a P/E ratio of -7.78 and a beta of 0.83. The firm’s 50-day moving average price is $7.08 and its 200-day moving average price is $6.18. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.75.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $5.29 billion. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 3,101 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth $36,000. BOKF NA bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth $41,000. NBC Securities Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $64,000. 7.99% of the stock is owned by institutional investors.

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.