Telefonaktiebolaget LM Ericsson (ERIC)'s Stock Is Buy After Today's Big Increase

Cornelia Mascio
Aprile 21, 2018

Telefonaktiebolaget LM Ericsson (NASDAQ:publ) has $26.19 billion market cap.

A number of other equities research analysts also recently issued reports on ERIC. Zacks Investment Research upgraded shares of Ericsson from a "sell" rating to a "hold" rating in a research note on Monday, February 5th. Berenberg Bank began coverage on Ericsson in a research note on Wednesday, April 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Finally, Cowen raised Ericsson from an "underperform" rating to a "market perform" rating and increased their target price for the company from $3.00 to $7.00 in a research note on Friday.

Ericsson (NASDAQ:ERIC) was upgraded by ValuEngine from a "hold" rating to a "buy" rating in a note issued to investors on Saturday. The company presently has an average rating of "Hold" and an average price target of $5.91.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Friday, April 20th. The stock had a trading volume of 44,268,278 shares, compared to its average volume of 5,605,676. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.33.

Revenue reported by Ericsson in the first quarter of the year was $5.14 billion. The company has a market capitalization of $21,238.54, a P/E ratio of -16.55 and a beta of 0.82. The communications equipment provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.18). Ericsson had a negative net margin of 17.57% and a negative return on equity of 11.30%. This is down from the company's earnings per share of 2 cents from the same time a year ago. The business's revenue was down 9.2% on a year-over-year basis. However, it is good news for ERIC stock by coming in above Wall Street's losses per share estimate of 2 cents for the period. Finally, Investors Research Corp purchased a new position in Ericsson during the 4th quarter valued at about $398,000. The Manufacturers Life Insurance Company now owns 418,147 shares of the communications equipment provider's stock worth $2,794,000 after purchasing an additional 377,722 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Ericsson by 934.4% during the fourth quarter. Bank of Montreal Can now owns 102,038 shares of the communications equipment provider's stock worth $682,000 after acquiring an additional 15,847 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Ericsson by 79.0% in the fourth quarter. James Hambro & Partners purchased a new stake in shares of Ericsson in the fourth quarter worth $157,000.

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