Ericsson (NASDAQ:ERIC - Get Free Report) announced its quarterly earnings results on Tuesday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02, reports. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted ($3.34) earnings per share.
Ericsson Trading Up 1.1%
Shares of NASDAQ:ERIC traded up $0.08 during trading on Friday, hitting $7.46. The company had a trading volume of 15,819,210 shares, compared to its average volume of 19,988,004. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 12.14 and a beta of 0.93. Ericsson has a one year low of $6.41 and a one year high of $9.00. The company has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $8.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.86.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on ERIC shares. Kepler Capital Markets upgraded Ericsson from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on Ericsson from $8.90 to $9.80 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded Ericsson from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th.
Check Out Our Latest Stock Report on Ericsson
Institutional Investors Weigh In On Ericsson
An institutional investor recently bought a new position in Ericsson stock. Dynamic Technology Lab Private Ltd acquired a new stake in Ericsson (NASDAQ:ERIC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,214 shares of the communications equipment provider's stock, valued at approximately $126,000. 7.99% of the stock is owned by hedge funds and other institutional investors.
Ericsson Company Profile
(
Get Free Report)
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.
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