Ericsson (NASDAQ:ERIC) Given Average Rating of “Hold” by Brokerages

Shares of Ericsson (NASDAQ:ERIC) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $11.00.

ERIC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Ericsson in a report on Tuesday, June 2nd. Danske upgraded shares of Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Citigroup restated a “neutral” rating on shares of Ericsson in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th.

Ericsson Stock Performance

NASDAQ ERIC opened at $9.59 on Friday. The stock has a market capitalization of $32.33 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.77 and a beta of 0.93. Ericsson has a 52-week low of $7.16 and a 52-week high of $13.77. The firm has a 50-day moving average price of $11.83 and a 200 day moving average price of $11.34. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.21.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.13 earnings per share for the quarter. The company had revenue of $5.43 billion for the quarter. Ericsson had a return on equity of 20.67% and a net margin of 10.72%. Equities research analysts expect that Ericsson will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hennessy Advisors Inc. increased its position in Ericsson by 10.3% during the fourth quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock worth $158,000 after purchasing an additional 1,518 shares during the last quarter. RNC Capital Management LLC boosted its holdings in shares of Ericsson by 2.5% in the 4th quarter. RNC Capital Management LLC now owns 64,667 shares of the communications equipment provider’s stock valued at $624,000 after purchasing an additional 1,576 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ericsson by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 250,389 shares of the communications equipment provider’s stock valued at $2,123,000 after purchasing an additional 1,658 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Ericsson by 7.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 42,902 shares of the communications equipment provider’s stock valued at $414,000 after buying an additional 2,869 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Ericsson during the 3rd quarter worth $28,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Ericsson Company Profile

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.