Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) shares hit a new 52-week high during trading on Thursday . The company traded as high as $9.25 and last traded at $9.27, with a volume of 1458482 shares trading hands. The stock had previously closed at $8.74.
A number of brokerages have recently commented on ERIC. Zacks Investment Research cut Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Credit Suisse Group raised Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “hold” rating and upped their price target for the company from $7.19 to $8.00 in a research report on Wednesday, September 19th. BidaskClub cut Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. DZ Bank reaffirmed a “$8.27” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Wednesday, July 18th. Finally, Canaccord Genuity increased their price objective on Telefonaktiebolaget LM Ericsson from $8.50 to $9.00 and gave the stock a “hold” rating in a report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Telefonaktiebolaget LM Ericsson presently has an average rating of “Hold” and a consensus target price of $8.08.
The firm has a market capitalization of $29.34 billion, a PE ratio of -19.64 and a beta of 0.77. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.33.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its quarterly earnings results on Wednesday, July 18th. The communications equipment provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Telefonaktiebolaget LM Ericsson had a negative net margin of 13.14% and a negative return on equity of 5.62%. The business had revenue of $49.80 billion during the quarter, compared to analysts’ expectations of $48.09 billion. During the same period in the previous year, the business earned $0.17 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.19 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the 2nd quarter valued at about $175,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter valued at about $177,000. Tower Research Capital LLC TRC bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 2nd quarter valued at about $206,000. Institute for Wealth Management LLC. increased its position in shares of Telefonaktiebolaget LM Ericsson by 62.1% during the 2nd quarter. Institute for Wealth Management LLC. now owns 32,953 shares of the communications equipment provider’s stock valued at $248,000 after purchasing an additional 12,625 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson during the 1st quarter valued at about $255,000. 8.18% of the stock is currently owned by hedge funds and other institutional investors.
Telefonaktiebolaget LM Ericsson Company Profile (NASDAQ:ERIC)
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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