Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded at Kepler Capital Markets

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) was upgraded by research analysts at Kepler Capital Markets from a "strong sell" rating to a "hold" rating in a research report issued on Wednesday, April 16th,Zacks.com reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of 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. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC traded down $0.05 on Wednesday, reaching $8.38. 25,404,076 shares of the company's stock were exchanged, compared to its average volume of 18,022,535. The firm has a market cap of $27.93 billion, a price-to-earnings ratio of -838,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The stock has a fifty day simple moving average of $7.93 and a 200-day simple moving average of $8.05. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.00 and a 52 week high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 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 company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $55.83 billion. As a group, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 27.5% during the first quarter. Blue Trust Inc. now owns 22,181 shares of the communications equipment provider's stock valued at $172,000 after purchasing an additional 4,778 shares during the last quarter. CWA Asset Management Group LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.1% during the 1st quarter. CWA Asset Management Group LLC now owns 373,710 shares of the communications equipment provider's stock valued at $2,900,000 after purchasing an additional 88,564 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at approximately $2,711,000. Elevation Point Wealth Partners LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 12.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 59,382 shares of the communications equipment provider's stock worth $461,000 after acquiring an additional 6,364 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 0.9% in the 1st quarter. SG Americas Securities LLC now owns 158,085 shares of the communications equipment provider's stock valued at $1,227,000 after acquiring an additional 1,339 shares in the last quarter. Institutional investors 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.