Brokerages Set Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Target Price at $75.90

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) have been assigned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $75.90.

A number of analysts recently weighed in on ERIC shares. Jefferies Financial Group started coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a research report on Thursday, March 17th. They issued a “hold” rating on the stock. Cowen cut their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $16.00 to $15.00 in a research report on Monday, April 18th. Grupo Santander upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “underperform” rating to an “outperform” rating and set a SEK 106 price target on the stock in a research report on Friday, April 8th. Credit Suisse Group cut their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 134 to SEK 120 in a research report on Thursday, April 21st. Finally, StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 16th.

Shares of NASDAQ ERIC opened at $7.60 on Tuesday. The firm has a market capitalization of $25.34 billion, a PE ratio of 10.00 and a beta of 0.39. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. Telefonaktiebolaget LM Ericsson has a 1 year low of $7.26 and a 1 year high of $13.40. The firm’s 50-day moving average is $7.97 and its 200-day moving average is $9.51.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) last issued its earnings results on Thursday, April 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.88 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 9.47% and a return on equity of 23.65%. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.75 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. AGF Investments Inc. raised its stake 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 in the last quarter. BNP Paribas Arbitrage SA raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 612.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 110,606 shares of the communications equipment provider’s stock valued at $1,202,000 after purchasing an additional 95,090 shares in the last quarter. Alan B. Lancz & Associates Inc. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $2,587,000. Dorsey & Whitney Trust CO LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 16.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 13,287 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 4.3% during the fourth quarter. Earnest Partners LLC now owns 205,695 shares of the communications equipment provider’s stock worth $2,236,000 after acquiring an additional 8,574 shares in the last quarter.

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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