Analysts Set Ericsson (NASDAQ:ERIC) Target Price at $11.00

Shares of Ericsson (NASDAQ:ERIC) have received an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.00.

Several research firms recently weighed in on ERIC. Weiss Ratings reissued a “buy (b)” rating on shares of Ericsson in a research report on Tuesday, June 2nd. Danske upgraded Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday. Wall Street Zen cut Ericsson from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Citigroup reiterated a “neutral” rating on shares of Ericsson in a report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERIC. Brown Brothers Harriman & Co. acquired a new position in Ericsson in the 3rd quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ericsson during the 1st quarter valued at $126,000. Hennessy Advisors Inc. boosted its stake in shares of Ericsson by 10.3% during the 4th 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 period. LSV Asset Management grew its holdings in shares of Ericsson by 14.3% during the 4th quarter. LSV Asset Management now owns 39,200 shares of the communications equipment provider’s stock valued at $378,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of Ericsson by 302.7% during the 3rd quarter. Brooklyn Investment Group now owns 46,112 shares of the communications equipment provider’s stock valued at $381,000 after acquiring an additional 34,660 shares in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Ericsson Stock Performance

NASDAQ ERIC opened at $9.82 on Friday. The firm’s 50 day moving average price is $11.94 and its two-hundred day moving average price is $11.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 1.12. Ericsson has a twelve month low of $7.16 and a twelve month high of $13.77. The stock has a market cap of $33.10 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.58 and a beta of 0.93.

Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, June 30th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $5.43 billion during the quarter. Ericsson had a return on equity of 20.67% and a net margin of 10.72%. Equities analysts anticipate that Ericsson will post 1.9 EPS for the current year.

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.