Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) gapped up before the market opened on Wednesday . The stock had previously closed at $9.50, but opened at $9.70. Telefonaktiebolaget LM Ericsson shares last traded at $10.05, with a volume of 24353678 shares traded.

ERIC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Cowen restated a “hold” rating and set a $10.00 price target on shares of Telefonaktiebolaget LM Ericsson in a research report on Sunday, April 21st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.37.

The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $32.30 billion, a P/E ratio of 335.00 and a beta of 0.55.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last released its earnings results on Wednesday, April 17th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Telefonaktiebolaget LM Ericsson had a negative net margin of 1.46% and a positive return on equity of 3.79%. The business had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48.35 billion. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.39 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson by 0.5% in the 4th quarter. Eqis Capital Management Inc. now owns 250,626 shares of the communications equipment provider’s stock worth $2,223,000 after purchasing an additional 1,338 shares in the last quarter. Lenox Wealth Management Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson by 8.5% in the 4th quarter. Lenox Wealth Management Inc. now owns 23,557 shares of the communications equipment provider’s stock worth $209,000 after purchasing an additional 1,851 shares in the last quarter. Advisor Partners LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson by 8.0% in the 4th quarter. Advisor Partners LLC now owns 37,828 shares of the communications equipment provider’s stock worth $336,000 after purchasing an additional 2,804 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Telefonaktiebolaget LM Ericsson in the 1st quarter worth approximately $35,000. Finally, Canton Hathaway LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

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Telefonaktiebolaget LM Ericsson Company Profile (NASDAQ:ERIC)

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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