Analysts Set Telefonaktiebolaget LM Ericsson (ERIC) Price Target at $8.18

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) have been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.18.

ERIC has been the topic of several analyst reports. Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, January 2nd. BidaskClub lowered Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine raised Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Finally, Raymond James upgraded Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 20th.

ERIC traded up $0.03 on Wednesday, hitting $9.18. 3,051,130 shares of the company traded hands, compared to its average volume of 4,985,222. The company has a quick ratio of 1.19, a current ratio of 1.45 and a debt-to-equity ratio of 0.35. The company has a market cap of $30.51 billion, a PE ratio of 306.00, a P/E/G ratio of 0.69 and a beta of 0.52. Telefonaktiebolaget LM Ericsson has a 12-month low of $6.00 and a 12-month high of $9.89.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.22). The business had revenue of $63.80 billion for the quarter, compared to analysts’ expectations of $61.50 billion. Telefonaktiebolaget LM Ericsson had a positive return on equity of 1.32% and a negative net margin of 2.91%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted ($1.19) earnings per share. As a group, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $42,000. Two Sigma Investments LP bought a new position in Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $94,000. Private Advisor Group LLC bought a new position in Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $110,000. First Allied Advisory Services Inc. bought a new position in Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $125,000. Finally, Atlas Capital Advisors LLC bought a new position in Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $152,000. 7.73% of the stock is owned by institutional investors and hedge funds.

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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