Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Receives Buy Rating from Canaccord Genuity

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Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a report released on Thursday, AnalystRatings.com reports. They presently have a $11.00 target price on the communications equipment provider’s stock. Canaccord Genuity’s price target suggests a potential upside of 44.74% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Barclays upgraded Telefonaktiebolaget LM Ericsson from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 16th. TheStreet cut Telefonaktiebolaget LM Ericsson from a “b-” rating to a “c” rating in a research report on Thursday, March 5th. BidaskClub upgraded Telefonaktiebolaget LM Ericsson from a “strong sell” rating to a “sell” rating in a research report on Friday, March 20th. ValuEngine upgraded Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Zacks Investment Research cut Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating and set a $9.50 price target for the company. in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.14.

Shares of NASDAQ ERIC opened at $7.60 on Thursday. The stock has a market cap of $24.87 billion, a PE ratio of 108.59, a price-to-earnings-growth ratio of 0.81 and a beta of 0.46. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $6.15 and a fifty-two week high of $10.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.32. The stock has a fifty day moving average of $7.99 and a 200-day moving average of $8.50.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last announced its quarterly earnings results on Friday, January 24th. The communications equipment provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $6.95 billion. Telefonaktiebolaget LM Ericsson had a net margin of 1.02% and a return on equity of 4.41%. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.52 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new stake in Telefonaktiebolaget LM Ericsson during the fourth quarter valued at $188,000. Sunbelt Securities Inc. bought a new stake in Telefonaktiebolaget LM Ericsson during the fourth quarter valued at $4,823,000. Profund Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson by 8.3% during the fourth quarter. Profund Advisors LLC now owns 64,864 shares of the communications equipment provider’s stock valued at $570,000 after buying an additional 4,949 shares during the period. Alliancebernstein L.P. bought a new stake in Telefonaktiebolaget LM Ericsson during the fourth quarter valued at $1,316,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Telefonaktiebolaget LM Ericsson by 55.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 56,682 shares of the communications equipment provider’s stock valued at $498,000 after buying an additional 20,326 shares during the period. 8.52% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson Company Profile

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.

Read More: Intrinsic Value

Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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