BidaskClub Upgrades Telefonaktiebolaget LM Ericsson (ERIC) to Buy

BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a hold rating to a buy rating in a report issued on Saturday, BidAskClub reports.

Several other brokerages have also recently issued reports on ERIC. Raymond James upgraded shares of Telefonaktiebolaget LM Ericsson from an underperform rating to a market perform rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded shares of Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating and set a $10.00 price target on the stock in a research report on Wednesday, January 2nd. Finally, ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a buy rating to a strong-buy rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $8.54.

Shares of NASDAQ ERIC opened at $9.66 on Friday. Telefonaktiebolaget LM Ericsson has a 1 year low of $6.28 and a 1 year high of $9.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.19 and a current ratio of 1.45. The stock has a market cap of $32.87 billion, a P/E ratio of 322.00, a P/E/G ratio of 0.74 and a beta of 0.52.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the 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 company had revenue of $63.80 billion for the quarter, compared to analysts’ expectations of $61.50 billion. During the same quarter in the prior year, the firm earned ($1.19) EPS. Telefonaktiebolaget LM Ericsson’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in Telefonaktiebolaget LM Ericsson by 1,367.0% in the fourth quarter. Millennium Management LLC now owns 5,566,488 shares of the communications equipment provider’s stock worth $49,375,000 after purchasing an additional 5,187,045 shares during the period. Morgan Stanley grew its holdings in Telefonaktiebolaget LM Ericsson by 12.3% in the third quarter. Morgan Stanley now owns 5,125,882 shares of the communications equipment provider’s stock worth $45,107,000 after purchasing an additional 561,794 shares during the period. FMR LLC grew its holdings in Telefonaktiebolaget LM Ericsson by 34.8% in the fourth quarter. FMR LLC now owns 5,026,883 shares of the communications equipment provider’s stock worth $44,588,000 after purchasing an additional 1,297,237 shares during the period. Cavalry Management Group LLC purchased a new stake in Telefonaktiebolaget LM Ericsson in the fourth quarter worth about $39,935,000. Finally, JPMorgan Chase & Co. grew its holdings in Telefonaktiebolaget LM Ericsson by 324.8% in the third quarter. JPMorgan Chase & Co. now owns 3,024,590 shares of the communications equipment provider’s stock worth $26,617,000 after purchasing an additional 2,312,625 shares during the period. Institutional investors and hedge funds own 7.73% 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.

Recommended Story: What is the Dow Jones Industrial Average (DJIA)?

Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Receive News & Ratings for Telefonaktiebolaget LM Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.