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

Ericsson (NASDAQ:ERICGet Free Report) has earned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $11.00.

ERIC has been the topic of a number of analyst reports. Weiss Ratings downgraded Ericsson from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 28th. Danske raised Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Finally, Citigroup reiterated a “neutral” rating on shares of Ericsson in a research note on Wednesday, July 15th.

Read Our Latest Stock Analysis on ERIC

Institutional Investors Weigh In On Ericsson

Institutional investors have recently bought and sold shares of the company. ABC Arbitrage SA grew its holdings in Ericsson by 36.7% in the fourth quarter. ABC Arbitrage SA now owns 4,389,009 shares of the communications equipment provider’s stock worth $42,354,000 after purchasing an additional 1,179,194 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Ericsson by 42.9% in 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 acquiring an additional 1,005,398 shares during the period. Russell Investments Group Ltd. increased its holdings in 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 acquiring an additional 304,974 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in 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 acquiring an additional 295,185 shares in the last quarter. Finally, Defiance ETFs LLC acquired a new position in Ericsson during the fourth quarter worth $13,766,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Ericsson Price Performance

NASDAQ ERIC opened at $10.10 on Friday. The company has a market cap of $34.05 billion, a PE ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.95. The firm’s 50 day moving average price is $10.23 and its 200-day moving average price is $11.28. 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 $7.87 and a 52-week high of $13.77.

Ericsson (NASDAQ:ERICGet Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.13 EPS for the quarter. The company had revenue of $5.43 billion during the quarter. Ericsson had a net margin of 10.72% and a return on equity of 20.63%. Sell-side analysts forecast that Ericsson will post 0.61 EPS for the current fiscal year.

Ericsson Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, September 4th. Investors of record on Tuesday, September 29th were paid a dividend of $0.1579 per share. The ex-dividend date was Tuesday, September 29th. Ericsson’s payout ratio is 28.21%.

Ericsson Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ericsson (NASDAQ:ERIC)

Receive News & Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.