Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded down 5.3% during trading on Friday . The company traded as low as $9.28 and last traded at $9.29. 11,702,141 shares changed hands during trading, an increase of 99% from the average session volume of 5,868,815 shares. The stock had previously closed at $9.81.

A number of equities research analysts recently commented on the stock. BidaskClub lowered shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Zacks Investment Research restated a “hold” rating on shares of Telefonaktiebolaget LM Ericsson in a report on Monday, December 31st. ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. Finally, Raymond James upgraded shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Telefonaktiebolaget LM Ericsson currently has an average rating of “Hold” and a consensus price target of $8.54.

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.19 and a current ratio of 1.45. The company has a market cap of $32.74 billion, a PE ratio of 309.67, a price-to-earnings-growth ratio of 0.74 and a beta of 0.52.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Friday, January 25th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.22). Telefonaktiebolaget LM Ericsson had a negative net margin of 2.91% and a positive return on equity of 1.32%. The business had revenue of $63.80 billion during the quarter, compared to analyst estimates of $61.50 billion. During the same quarter in the previous year, the firm posted ($1.19) earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.32 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Eqis Capital Management Inc. grew its position 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 valued at $2,223,000 after acquiring an additional 1,338 shares during the period. Lenox Wealth Management Inc. grew its position 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 valued at $209,000 after acquiring an additional 1,851 shares during the period. Advisor Partners LLC grew its position 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 valued at $336,000 after acquiring an additional 2,804 shares during the period. Bank of Montreal Can grew its position in shares of Telefonaktiebolaget LM Ericsson by 6.0% in the 4th quarter. Bank of Montreal Can now owns 78,177 shares of the communications equipment provider’s stock valued at $693,000 after acquiring an additional 4,395 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 7.73% 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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