Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Stock Rating Upgraded by Charter Equity

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was upgraded by analysts at Charter Equity from a “market perform” rating to a “buy” rating in a report released on Friday, Briefing.com Automated Import reports.

A number of other analysts also recently weighed in on the company. Goldman Sachs Group upgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “conviction-buy” rating and set a $11.50 target price for the company in a research report on Monday, July 29th. TheStreet downgraded Telefonaktiebolaget LM Ericsson from a “b” rating to a “c” rating in a research report on Monday, August 19th. DZ Bank upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. ValuEngine downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Santander downgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $10.07.

Shares of ERIC opened at $9.18 on Friday. The company has a market cap of $29.94 billion, a PE ratio of 306.00 and a beta of 0.54. The company has a current ratio of 1.42, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $8.10 and a 200-day moving average price of $9.04. Telefonaktiebolaget LM Ericsson has a 12-month low of $7.58 and a 12-month high of $10.46.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings results on Thursday, October 17th. The communications equipment provider reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.27). The firm had revenue of $57.13 billion during the quarter, compared to the consensus estimate of $56.60 billion. Telefonaktiebolaget LM Ericsson had a negative return on equity of 4.28% and a negative net margin of 3.89%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, analysts predict that Telefonaktiebolaget LM Ericsson will post 0.35 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Wrapmanager Inc. lifted its position in Telefonaktiebolaget LM Ericsson by 27.7% in the second quarter. Wrapmanager Inc. now owns 13,181 shares of the communications equipment provider’s stock valued at $125,000 after purchasing an additional 2,863 shares during the last quarter. Financial Advocates Investment Management bought a new stake in Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $96,000. Advisory Services Network LLC lifted its position in Telefonaktiebolaget LM Ericsson by 578.1% in the second quarter. Advisory Services Network LLC now owns 3,282 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 2,798 shares during the last quarter. Rational Advisors LLC lifted its position in Telefonaktiebolaget LM Ericsson by 438.0% in the second quarter. Rational Advisors LLC now owns 110,444 shares of the communications equipment provider’s stock valued at $1,050,000 after purchasing an additional 89,914 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Telefonaktiebolaget LM Ericsson by 8.8% in the second quarter. First Trust Advisors LP now owns 138,900 shares of the communications equipment provider’s stock valued at $1,320,000 after purchasing an additional 11,192 shares during the last quarter. Institutional investors own 8.19% of the company’s stock.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business 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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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