Ericsson (NASDAQ:ERIC – Get Free Report) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.00.
Several research analysts recently commented on ERIC shares. Wall Street Zen cut Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Citigroup reaffirmed a “neutral” rating on shares of Ericsson in a research report on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Ericsson in a research report on Tuesday, June 2nd. Finally, Danske upgraded shares of Ericsson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th.
Get Our Latest Stock Report on Ericsson
Ericsson Stock Performance
Ericsson (NASDAQ:ERIC – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The communications equipment provider reported $0.13 EPS for the quarter. The business 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%. On average, research analysts predict that Ericsson will post 0.61 EPS for the current fiscal year.
Institutional Investors Weigh In On Ericsson
A number of large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Ericsson during the 3rd quarter worth $28,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ericsson during the first quarter worth $126,000. Hennessy Advisors Inc. increased its holdings in Ericsson by 10.3% in the fourth 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 during the last quarter. LSV Asset Management increased its holdings in Ericsson by 14.3% in the fourth quarter. LSV Asset Management now owns 39,200 shares of the communications equipment provider’s stock valued at $378,000 after buying an additional 4,900 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in Ericsson by 7.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 42,902 shares of the communications equipment provider’s stock valued at $414,000 after buying an additional 2,869 shares in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.
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.
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