Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a strong-buy rating to a buy rating in a report published on Friday morning.

Separately, JPMorgan Chase & Co. raised their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 14.4 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.62 on Friday. The stock’s 50-day moving average is $8.23 and its 200 day moving average is $7.70. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.90. The firm has a market cap of $25.39 billion, a price-to-earnings ratio of -254.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. Equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERIC. Mercer Global Advisors Inc. ADV raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider’s stock worth $632,000 after purchasing an additional 1,777 shares during the period. First Affirmative Financial Network raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 4.7% during the fourth quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock worth $324,000 after buying an additional 1,798 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider’s stock valued at $388,000 after buying an additional 1,823 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the third quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock valued at $264,000 after buying an additional 1,866 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock worth $228,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.