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

Shares of Ericsson (NASDAQ:ERIC) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $11.00.

A number of equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Ericsson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 28th. Danske upgraded shares of Ericsson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Finally, Citigroup reissued a “neutral” rating on shares of Ericsson in a research note on Wednesday, July 15th.

Ericsson Trading Up 3.0%

NASDAQ:ERIC opened at $10.31 on Friday. Ericsson has a 1-year low of $7.87 and a 1-year high of $13.77. The business’s 50-day moving average price is $10.15 and its two-hundred day moving average price is $11.24. The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $34.76 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.84 and a beta of 0.95.

Ericsson (NASDAQ:ERIC) last posted 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 20.63% and a net margin of 10.72%. On average, equities analysts expect that Ericsson will post 0.61 earnings per share for the current year.

Ericsson Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, September 11th. Investors of record on Tuesday, September 29th were paid a dividend of $0.1579 per share. The ex-dividend date of this dividend was Tuesday, September 29th. Ericsson’s dividend payout ratio is presently 28.21%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new stake in shares of Ericsson during the third quarter worth $28,000. Dynamic Technology Lab Private Ltd acquired a new position in Ericsson in the 1st quarter worth $126,000. LSV Asset Management boosted its stake in Ericsson by 14.3% in the 4th quarter. LSV Asset Management now owns 39,200 shares of the communications equipment provider’s stock worth $378,000 after purchasing an additional 4,900 shares during the period. Brooklyn Investment Group increased its holdings in Ericsson by 302.7% during the 3rd quarter. Brooklyn Investment Group now owns 46,112 shares of the communications equipment provider’s stock worth $381,000 after purchasing an additional 34,660 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in Ericsson by 7.2% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 42,902 shares of the communications equipment provider’s stock worth $414,000 after purchasing an additional 2,869 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Ericsson Company Profile

Ericsson (NASDAQ: ERIC) is a Sweden-based provider of telecommunications and networking technology. The company develops and supplies equipment, software and services that help communications service providers build, operate and modernize mobile and fixed networks.

Its offerings include radio access network products for cellular connectivity, mobile core networks, transport and network management systems, cloud-based telecommunications platforms, and related professional and managed services.