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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) released its quarterly earnings results on Friday. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04), Zacks reports. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC opened at $7.94 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $8.22 and a 200-day moving average price of $7.69. The stock has a market capitalization of $26.44 billion, a P/E ratio of -264.50 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.90.

Analysts Set New Price Targets

A number of brokerages have recently commented on ERIC. JPMorgan Chase & Co. boosted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.