Ericsson (NASDAQ:ERIC) Stock Has Average Target Price of $9.00 According to Analysts

by · The Cerbat Gem

Shares of Ericsson (NASDAQ:ERIC – Get Free Report) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts recently issued reports on the stock. Citigroup reiterated a “neutral” rating on shares of Ericsson in a research report on Wednesday, July 15th. Morgan Stanley downgraded shares of Ericsson from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $11.00 to $9.00 in a report on Tuesday, September 22nd. Weiss Ratings cut Ericsson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 28th. Finally, Danske raised Ericsson from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th.

Check Out Our Latest Report on Ericsson

Institutional Trading of Ericsson

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Ericsson by 8.5% in the 1st quarter. Bank of New York Mellon Corp now owns 160,581 shares of the communications equipment provider’s stock valued at $1,810,000 after purchasing an additional 12,534 shares during the last quarter. Advisors Preferred LLC bought a new position in Ericsson during the first quarter worth $493,000. Atlas Capital Advisors Inc. acquired a new position in Ericsson in the fourth quarter valued at $429,000. Public Employees Retirement System of Ohio boosted its position in Ericsson by 26.3% during the first quarter. Public Employees Retirement System of Ohio now owns 1,418,076 shares of the communications equipment provider’s stock valued at $15,982,000 after acquiring an additional 295,185 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Ericsson by 60.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,645,672 shares of the communications equipment provider’s stock valued at $15,881,000 after acquiring an additional 620,144 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Ericsson Price Performance

Ericsson stock opened at $9.29 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 1.12. Ericsson has a 52 week low of $8.12 and a 52 week high of $13.77. The stock has a market capitalization of $31.32 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The stock has a fifty day moving average of $9.97 and a 200-day moving average of $11.07.

Ericsson (NASDAQ:ERIC – Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.13 earnings per share 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 for the quarter. On average, sell-side analysts expect that Ericsson will post 0.61 earnings per share for the current fiscal year.

Ericsson Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a $0.1579 dividend. The ex-dividend date was Tuesday, September 29th. Ericsson’s dividend payout ratio (DPR) is currently 26.92%.

About Ericsson

(Get Free Report)

Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish telecommunications and technology company that provides communications infrastructure, software, and related services to telecommunications operators and enterprises worldwide. The company was founded in 1876 by Lars Magnus Ericsson and is headquartered in Stockholm, Sweden.

Ericsson’s offerings include mobile network equipment and services for 4G and 5G networks, radio access systems, core networks, transport solutions, and network management software.

Featured Stories