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

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

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

Institutional Investors Weigh In On Ericsson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Ericsson during the third quarter worth about $28,000. Dynamic Technology Lab Private Ltd purchased a new position in Ericsson in the 1st quarter valued at about $126,000. Hennessy Advisors Inc. lifted its stake in Ericsson by 10.3% in the 4th quarter. Hennessy Advisors Inc. now owns 16,324 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 1,518 shares in the last quarter. LSV Asset Management boosted its holdings in Ericsson by 14.3% in the 4th quarter. LSV Asset Management now owns 39,200 shares of the communications equipment provider’s stock worth $378,000 after buying an additional 4,900 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Ericsson by 302.7% in the 3rd quarter. Brooklyn Investment Group now owns 46,112 shares of the communications equipment provider’s stock worth $381,000 after buying an additional 34,660 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Ericsson Stock Down 1.7%

NASDAQ:ERIC opened at $9.98 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. Ericsson has a twelve month low of $7.47 and a twelve month high of $13.77. The company has a market cap of $33.64 billion, a PE ratio of 12.80, a P/E/G ratio of 1.87 and a beta of 0.95. The company’s 50 day moving average is $10.93 and its two-hundred day moving average is $11.37.

Ericsson (NASDAQ:ERIC) last issued its quarterly earnings results on Tuesday, June 30th. The communications equipment provider reported $0.13 EPS for the quarter. Ericsson had a return on equity of 20.63% and a net margin of 10.72%.The company had revenue of $5.43 billion during the quarter. Analysts anticipate that Ericsson will post 0.61 EPS for the current year.

About Ericsson

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.