Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Raised to Buy at BidaskClub

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday, March 22nd, BidAskClub reports.

A number of other brokerages also recently issued reports on ERIC. Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “strong sell” rating in a report on Thursday, February 14th. Raymond James raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a report on Thursday, December 20th. Finally, ValuEngine raised shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Telefonaktiebolaget LM Ericsson currently has a consensus rating of “Hold” and an average price target of $8.54.

Shares of Telefonaktiebolaget LM Ericsson stock traded down $0.20 during trading on Friday, hitting $9.66. The company’s stock had a trading volume of 7,385,361 shares, compared to its average volume of 5,657,687. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.45 and a quick ratio of 1.19. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 322.00, a PEG ratio of 0.74 and a beta of 0.52. Telefonaktiebolaget LM Ericsson has a 52 week low of $6.28 and a 52 week high of $9.89.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, January 25th. The communications equipment provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a negative net margin of 2.91% and a positive return on equity of 1.32%. The firm had revenue of $63.80 billion for the quarter, compared to analysts’ expectations of $61.50 billion. During the same period last year, the company posted ($1.19) earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its stake in Telefonaktiebolaget LM Ericsson by 0.9% during the 3rd quarter. Primecap Management Co. CA now owns 132,741,106 shares of the communications equipment provider’s stock worth $1,168,122,000 after acquiring an additional 1,143,200 shares during the period. Millennium Management LLC raised its stake in Telefonaktiebolaget LM Ericsson by 1,367.0% during the 4th quarter. Millennium Management LLC now owns 5,566,488 shares of the communications equipment provider’s stock worth $49,375,000 after acquiring an additional 5,187,045 shares during the period. Morgan Stanley raised its position in shares of Telefonaktiebolaget LM Ericsson by 12.3% during the third quarter. Morgan Stanley now owns 5,125,882 shares of the communications equipment provider’s stock valued at $45,107,000 after buying an additional 561,794 shares during the last quarter. FMR LLC raised its position in shares of Telefonaktiebolaget LM Ericsson by 34.8% during the fourth quarter. FMR LLC now owns 5,026,883 shares of the communications equipment provider’s stock valued at $44,588,000 after buying an additional 1,297,237 shares during the last quarter. Finally, Cavalry Management Group LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter valued at approximately $39,935,000. Institutional investors own 7.73% of the company’s stock.

About Telefonaktiebolaget LM Ericsson

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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