Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a hold rating to a buy rating in a research note published on Saturday, April 13th, BidAskClub reports.

ERIC has been the subject of a number of other reports. ValuEngine raised Telefonaktiebolaget LM Ericsson from a buy rating to a strong-buy rating in a report on Tuesday, March 5th. Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Wednesday, January 2nd. Finally, Raymond James raised Telefonaktiebolaget LM Ericsson from an underperform rating to a market perform rating in a research note on Thursday, December 20th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $9.14.

Shares of Telefonaktiebolaget LM Ericsson stock remained flat at $$9.64 on Friday. The stock had a trading volume of 5,258,788 shares, compared to its average volume of 6,430,763. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.32 and a quick ratio of 1.05. The firm has a market cap of $32.14 billion, a PE ratio of 321.33 and a beta of 0.55. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $7.16 and a fifty-two week high of $10.46.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Wednesday, April 17th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Telefonaktiebolaget LM Ericsson had a positive return on equity of 3.79% and a negative net margin of 1.46%. The business had revenue of $48.90 billion during the quarter, compared to analyst estimates of $48.35 billion. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.37 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. boosted its stake in shares of Telefonaktiebolaget LM Ericsson by 29.9% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 130,300 shares of the communications equipment provider’s stock worth $1,156,000 after acquiring an additional 30,000 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $42,000. CI Investments Inc. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson in the third quarter valued at $4,462,000. Raymond James & Associates lifted its holdings in shares of Telefonaktiebolaget LM Ericsson by 24.9% in the fourth quarter. Raymond James & Associates now owns 101,889 shares of the communications equipment provider’s stock valued at $904,000 after purchasing an additional 20,320 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Telefonaktiebolaget LM Ericsson by 65.2% in the fourth quarter. Bank of America Corp DE now owns 2,318,920 shares of the communications equipment provider’s stock valued at $20,568,000 after purchasing an additional 915,047 shares in the last quarter. 7.74% 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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