Redburn Partners started coverage on shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating on the communications equipment provider's stock.
Several other brokerages also recently weighed in on ERIC. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a strong-buy rating to a buy rating in a research report on Sunday, July 3rd. Cowen dropped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $15.00 to $11.00 in a research report on Friday, July 15th. Cheuvreux downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a buy rating to a hold rating in a research report on Friday, July 15th. Credit Suisse Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an outperform rating to an underperform rating in a research report on Thursday, September 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 80 in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of Hold and a consensus price target of $77.58.
Get Telefonaktiebolaget LM Ericsson (publ) alerts:Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.5 %
NASDAQ ERIC opened at $5.94 on Monday. Telefonaktiebolaget LM Ericsson has a one year low of $5.78 and a one year high of $12.78. The company has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $7.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.25 and a current ratio of 1.60. The firm has a market capitalization of $19.78 billion, a PE ratio of 7.71 and a beta of 0.41.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) last posted its quarterly earnings results on Thursday, July 14th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 9.61% and a return on equity of 22.68%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.37 billion. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.62 earnings per share for the current year.Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend
The business also recently announced a dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 30th will be paid a dividend of $0.076 per share. The ex-dividend date is Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)'s payout ratio is currently 23.38%.
Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)
Several large investors have recently bought and sold shares of the stock. George Kaiser Family Foundation increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 53.4% in the 2nd quarter. George Kaiser Family Foundation now owns 246,938 shares of the communications equipment provider's stock valued at $1,827,000 after buying an additional 85,964 shares during the period. Credit Suisse AG increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 398.4% in the 2nd quarter. Credit Suisse AG now owns 3,668,232 shares of the communications equipment provider's stock valued at $27,146,000 after buying an additional 2,932,251 shares during the period. Finally, AGF Investments Inc. increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the 1st quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider's stock valued at $39,531,000 after buying an additional 2,297,972 shares during the period. 8.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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