Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Issues Quarterly Earnings Results

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) posted its quarterly earnings data on Thursday. The communications equipment provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.27), Fidelity Earnings reports. Telefonaktiebolaget LM Ericsson had a negative return on equity of 4.28% and a negative net margin of 3.89%. The firm had revenue of $57.13 billion for the quarter, compared to analysts’ expectations of $56.60 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis.

Telefonaktiebolaget LM Ericsson stock opened at $9.18 on Friday. The company’s fifty day simple moving average is $8.10 and its 200-day simple moving average is $9.04. The company has a quick ratio of 1.11, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. Telefonaktiebolaget LM Ericsson has a 12 month low of $7.58 and a 12 month high of $10.46. The stock has a market cap of $29.94 billion, a P/E ratio of 306.00 and a beta of 0.54.

Several equities analysts have weighed in on the stock. Canaccord Genuity upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. DZ Bank upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. New Street Research assumed coverage on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday. They set a “neutral” rating on the stock. Goldman Sachs Group upgraded shares of Telefonaktiebolaget LM Ericsson from a “buy” rating to a “conviction-buy” rating and set a $11.50 price target on the stock in a report on Monday, July 29th. Finally, TheStreet cut shares of Telefonaktiebolaget LM Ericsson from a “b” rating to a “c” rating in a report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.07.

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.

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Earnings History for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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