Ericsson (NASDAQ:ERIC) Receives $11.00 Average Target Price from Brokerages

Ericsson (NASDAQ:ERIC) has been given an average recommendation of “Hold” by the nine analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on 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.

Several equities research analysts recently commented on ERIC shares. Wall Street Zen downgraded Ericsson from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings restated a “buy (b)” rating on shares of Ericsson in a research note on Tuesday, June 2nd. Citigroup reaffirmed a “neutral” rating on shares of Ericsson in a report on Wednesday, July 15th. Finally, Danske upgraded shares of Ericsson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th.

Ericsson Stock Performance

ERIC stock opened at $10.27 on Tuesday. The stock’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $11.37. 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 12-month low of $7.61 and a 12-month high of $13.77. The stock has a market capitalization of $34.62 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.90 and a beta of 0.95.

Ericsson (NASDAQ:ERIC) last posted its 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 business had revenue of $5.43 billion during the quarter. As a group, research analysts forecast that Ericsson will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ericsson

Large investors have recently added to or reduced their stakes in the stock. ABC Arbitrage SA raised its stake in Ericsson by 36.7% during the 4th quarter. ABC Arbitrage SA now owns 4,389,009 shares of the communications equipment provider’s stock valued at $42,354,000 after buying an additional 1,179,194 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ericsson by 42.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,350,029 shares of the communications equipment provider’s stock valued at $28,408,000 after buying an additional 1,005,398 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Ericsson by 19.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,903,298 shares of the communications equipment provider’s stock worth $18,603,000 after buying an additional 304,974 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Ericsson by 26.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,418,076 shares of the communications equipment provider’s stock worth $15,982,000 after buying an additional 295,185 shares during the last quarter. Finally, Defiance ETFs LLC bought a new stake in shares of Ericsson in the fourth quarter worth $13,766,000. Institutional investors own 7.99% of the company’s stock.

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.