Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Announces Earnings Results

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) posted its earnings results on Friday. The communications equipment provider reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20, reports. The company had revenue of $8.02 billion during the quarter, compared to analyst estimates of $8.03 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 16.09% and a net margin of 6.86%.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.16 during trading hours on Monday, hitting $5.84. 13,060,527 shares of the company traded hands, compared to its average volume of 12,107,345. The firm has a market cap of $19.45 billion, a P/E ratio of 10.60 and a beta of 0.54. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $6.11 and its two-hundred day simple moving average is $6.51. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.16 and a 1-year high of $12.78.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 90 in a research report on Tuesday, December 13th. Cowen lowered their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $11.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Raymond James decreased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $10.50 to $7.50 in a research note on Sunday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 80 to SEK 70 in a report on Wednesday, November 9th. Finally, Oddo Bhf downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to an “underperform” rating and set a SEK 60 price objective for the company. in a report on Friday, October 21st. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of “Hold” and a consensus price target of $69.21.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently made changes to their positions in ERIC. BNP Paribas Arbitrage SNC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 32,373 shares during the period. George Kaiser Family Foundation raised its position in Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock valued at $1,646,000 after acquiring an additional 39,876 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $1,847,000. Finally, Credit Suisse AG increased its position in Telefonaktiebolaget LM Ericsson (publ) by 398.4% during the second quarter. Credit Suisse AG now owns 3,668,232 shares of the communications equipment provider’s stock worth $27,146,000 after acquiring an additional 2,932,251 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.