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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, JPMorgan Chase & Co. upped their target price on 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) Price Performance

Shares of ERIC traded down $1.28 during mid-day trading on Friday, reaching $7.62. The company had a trading volume of 43,117,757 shares, compared to its average volume of 17,971,066. The company has a market capitalization 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 quick ratio of 0.95 and a current ratio of 1.19. The company’s 50 day simple moving average is $8.23 and its 200 day simple moving average is $7.70. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently modified their holdings of the business. Diversified Trust Co raised its position in Telefonaktiebolaget LM Ericsson (publ) by 68.7% during the 4th quarter. Diversified Trust Co now owns 343,965 shares of the communications equipment provider’s stock worth $2,772,000 after purchasing an additional 140,116 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 80.2% during the third quarter. Sanctuary Advisors LLC now owns 23,662 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 10,530 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 479,894 shares of the communications equipment provider’s stock worth $3,638,000 after acquiring an additional 239,651 shares during the last quarter. US Bancorp DE boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 415.6% in the third quarter. US Bancorp DE now owns 181,305 shares of the communications equipment provider’s stock valued at $1,374,000 after acquiring an additional 146,141 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at approximately $3,032,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.