In today’s recent session, 2,364,591 shares of the Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been traded, and its beta is 0.42. Most recently the company’s share price was $13.56, and it changed around $0.04 or 0% from the last close, which brings the market valuation of the company to $44.96 Billion. ERIC at last check was trading at a discount to its 52-week high of $15.32, offering almost -12.98% off that amount. The share price’s 52-week low was $7.94, which indicates that the recent value has risen by an impressive 41.45% since then. We note from Telefonaktiebolaget LM Ericsson (publ)’s average daily trading volume that its 10-day average is 6.02 Million shares, with the 3-month average coming to 7.82 Million.
Telefonaktiebolaget LM Ericsson (publ) stock received a consensus recommendation rating of Overweight, based on a mean score of 1.7. If we narrow it down even further, the data shows that none out of 26 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 4 recommended ERIC as a Hold, whereas 19 deemed it a Buy, and 1 rated it as Underweight. Telefonaktiebolaget LM Ericsson (publ) is expected to report earnings per share of $0.14 for the current quarter.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC): Trading Information Today
Instantly ERIC has been showing a green trend so far today with a performance of 0.33% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $13.61 on Wednesday, Apr 07 increased the stock’s daily price by 0.33%. The company’s shares are currently up 0.14% year-to-date, but still up 0.0215 over the last five days. On the other hand, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) is 0.12% up in the 30-day period. We can see from the shorts that 6.54 Million shares have been sold at a short interest cover period of 0.84 day (s).
The consensus price target as assigned by Wall Street analysts is $15.04, which translates to bears needing to increase their stock price by 10.91% from its current value. Analyst projections state that ERIC is forecast to be at a low of $11.4 and a high of $17.78. In order for the stock price to hit the forecast high, the stock would need to surge +31.12% from its current level, while the stock would need to crash -15.93% from its current level to reach the projected low.
Telefonaktiebolaget LM Ericsson (publ) (ERIC) projections and forecasts
Telefonaktiebolaget LM Ericsson (publ) share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +27.43 percent over the past six months and at a 23.44% annual growth rate that is well below the industry average of 29.8%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +75% in revenue this quarter, and will report an increase of 60% in the next quarter. The year-over-year growth rate is expected to be 13.4%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $6.53 Billion in revenue for the current quarter. 5 analysts expect Telefonaktiebolaget LM Ericsson (publ) to make $7.03 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $5.17 Billion and $5.57 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 26.1%. Forecasts for the next quarter put sales growth at 26.3%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5%. Telefonaktiebolaget LM Ericsson (publ) earnings are expected to increase by 682.4% in 2021, but the outlook is positive 13.57% per year for the next five years.
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ERIC Dividend Yield
The annual dividend yield of the stock is 1.52 percent and its annual dividend per share was $0.21. It is important to note, however, that the 1.52% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.41% per year.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0% of Telefonaktiebolaget LM Ericsson (publ) shares, and 9.93% of them are in the hands of institutional investors. The stock currently has a share float of 9.93%. Telefonaktiebolaget LM Ericsson (publ) stock is held by 413 institutions, with Primecap Management Company being the largest institutional investor. By Dec 30, 2020, it held 3.95% of the shares, which is about 121.32 Million shares worth $1.45 Billion.
Hotchkis & Wiley Capital Management, LLC, with 0.97% or 29.84 Million shares worth $356.65 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard/Primecap Fund and Primecap Odyssey Stock Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 70373826 shares worth $840.97 Million, making up 2.29% of all outstanding shares. On the other hand, Primecap Odyssey Stock Fund held roughly 12.48 Million shares worth around $155.61 Million, which represents about 0.41% of the total shares outstanding.