Telefonaktiebolaget LM Ericsson (ERIC) Raised to “Strong-Buy” at ValuEngine

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Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Other research analysts also recently issued reports about the stock. DZ Bank reaffirmed a “$8.27” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Wednesday, September 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Telefonaktiebolaget LM Ericsson in a research report on Monday, September 17th. BidaskClub raised shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Finally, Credit Suisse Group raised shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “hold” rating and increased their target price for the company from $7.19 to $8.00 in a research report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.08.

Shares of NASDAQ ERIC traded up $0.46 during mid-day trading on Thursday, reaching $9.20. The company had a trading volume of 19,756,800 shares, compared to its average volume of 5,278,494. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.50 and a quick ratio of 1.22. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of -19.57 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.84 and a 52-week high of $9.35.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its earnings results on Wednesday, July 18th. The communications equipment provider reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.03). The company had revenue of $49.80 billion during the quarter, compared to analysts’ expectations of $48.09 billion. Telefonaktiebolaget LM Ericsson had a negative net margin of 13.14% and a negative return on equity of 5.62%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. As a group, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.19 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth $586,000. Quantitative Systematic Strategies LLC acquired a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth $1,541,000. Renaissance Technologies LLC acquired a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth $33,931,000. Caption Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth $1,611,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Telefonaktiebolaget LM Ericsson during the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 8.18% of the company’s stock.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, 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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