Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $58.33 Consensus PT from Analysts

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $58.33.

Several equities analysts have recently issued reports on ERIC shares. Deutsche Bank Aktiengesellschaft decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 80 to SEK 70 in a research note on Wednesday, November 9th. Raymond James decreased their price target on Telefonaktiebolaget LM Ericsson (publ) from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Societe Generale lowered Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “sell” rating in a research note on Monday, October 24th. Finally, The Goldman Sachs Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “neutral” rating in a research note on Monday, October 24th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.0 %

Shares of ERIC opened at $6.15 on Friday. Telefonaktiebolaget LM Ericsson has a 52-week low of $5.16 and a 52-week high of $12.78. The business’s fifty day moving average is $5.97 and its 200-day moving average is $7.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 8.54 and a beta of 0.49.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 30th were issued a dividend of $0.076 per share. The ex-dividend date of this dividend was Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is presently 20.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SNC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 32,373 shares during the period. Credit Suisse AG lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 34.2% during the 3rd quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock worth $28,247,000 after buying an additional 1,252,947 shares during the period. George Kaiser Family Foundation lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the 3rd quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock worth $1,646,000 after buying an additional 39,876 shares during the period. Russell Investments Group Ltd. acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter worth about $1,847,000. Finally, AGF Investments Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 113.4% during the 1st quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock worth $39,531,000 after buying an additional 2,297,972 shares during the period. 8.53% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

(Get Rating)

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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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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