Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded by Kepler Capital Markets to “Hold” Rating

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by analysts at Kepler Capital Markets from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a research report on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $8.17 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.96 and a twelve month high of $8.90. The company’s 50 day moving average is $7.90 and its 200 day moving average is $8.03. The company has a market cap of $27.23 billion, a PE ratio of -817,000.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $55.83 billion. On average, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock worth $109,673,000 after purchasing an additional 10,891,451 shares in the last quarter. Millennium Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 234.6% during the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock worth $54,364,000 after buying an additional 4,729,207 shares during the period. DigitalBridge Group Inc. lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 28.8% during the 4th quarter. DigitalBridge Group Inc. now owns 6,382,140 shares of the communications equipment provider’s stock valued at $51,440,000 after buying an additional 1,427,386 shares in the last quarter. Sei Investments Co. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock valued at $38,755,000 after acquiring an additional 1,705,246 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth $23,440,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

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.