Ericsson (NASDAQ:ERIC) Given Average Recommendation of “Reduce” by Analysts

by · The Markets Daily

Shares of Ericsson (NASDAQ:ERIC – Get Free Report) have received a consensus rating of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.80.

ERIC has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Ericsson to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ericsson in a research report on Monday, December 29th. Danske lowered shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Finally, Barclays reaffirmed an “underweight” rating on shares of Ericsson in a report on Wednesday, October 15th.

Check Out Our Latest Report on Ericsson

Ericsson Stock Down 1.6%

NASDAQ:ERIC opened at $9.50 on Monday. The firm has a market capitalization of $32.02 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.92. The stock has a 50 day moving average of $9.67 and a 200-day moving average of $8.65. Ericsson has a 52 week low of $6.64 and a 52 week high of $10.35. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. bought a new stake in shares of Ericsson during the third quarter valued at about $28,000. Cromwell Holdings LLC grew its position in Ericsson by 72.8% in the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 4,330 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Ericsson by 12.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 1,441 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ericsson during the 1st quarter worth about $126,000. Finally, Ascent Group LLC bought a new stake in shares of Ericsson during the 1st quarter worth about $138,000. Institutional investors own 7.99% of the company’s stock.

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.

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