Telefonaktiebolaget LM Ericsson (ERIC) Releases Earnings Results
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) issued its earnings results on Wednesday. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05, MarketWatch Earnings reports. The company had revenue of $48.90 billion for the quarter, compared to analyst estimates of $48.35 billion. Telefonaktiebolaget LM Ericsson had a positive return on equity of 1.32% and a negative net margin of 2.91%. Telefonaktiebolaget LM Ericsson’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share.
Shares of NASDAQ ERIC opened at $9.68 on Wednesday. Telefonaktiebolaget LM Ericsson has a 52 week low of $6.34 and a 52 week high of $9.89. The company has a quick ratio of 1.19, a current ratio of 1.45 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $32.21 billion, a price-to-earnings ratio of 322.67, a P/E/G ratio of 0.73 and a beta of 0.52.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine upgraded Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. Finally, Raymond James upgraded Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 20th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.54.
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About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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