Ericsson (NASDAQ:ERIC) Receives $9.80 Average PT from Analysts

by · The Markets Daily

Shares of Ericsson (NASDAQ:ERIC – Get Free Report) have been given an average recommendation of “Reduce” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.80.

Several research analysts recently commented on ERIC shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ericsson in a research note on Monday. Jefferies Financial Group upgraded Ericsson to a “hold” rating in a report on Monday, October 13th. Citigroup reaffirmed a “neutral” rating on shares of Ericsson in a research report on Wednesday, October 22nd. BNP Paribas reiterated an “underperform” rating on shares of Ericsson in a research note on Wednesday, September 3rd. Finally, Danske lowered shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th.

Read Our Latest Stock Report on Ericsson

Institutional Investors Weigh In On Ericsson

Institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new stake in Ericsson during the third quarter valued at approximately $28,000. Federated Hermes Inc. bought a new stake in shares of Ericsson in the 1st quarter valued at approximately $27,000. Cromwell Holdings LLC raised its position in shares of Ericsson by 72.8% during the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after acquiring an additional 4,330 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Ericsson by 692.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 12,456 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 10,884 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Ericsson by 12.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 1,441 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Ericsson Trading Down 0.7%

ERIC opened at $9.58 on Thursday. The firm’s 50 day moving average is $9.44 and its 200-day moving average is $8.51. Ericsson has a 52-week low of $6.64 and a 52-week high of $10.35. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $32.08 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.58 and a beta of 0.91.

Ericsson (NASDAQ:ERIC – Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $57.16 billion. Ericsson had a net margin of 10.44% and a return on equity of 21.50%. The business’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Analysts expect that Ericsson will post 0.48 EPS for the current fiscal year.

Ericsson Company Profile

(Get Free Report)

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.

Featured Articles