In the latest trading session, 1.13 million Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares changed hands as the company’s beta touched 0.40. With the company’s most recent per share price at $11.60 changed hands at -$0.1 or -0.85% at last look, the market valuation stands at $39.45B. ERIC’s current price is a discount, trading about -31.98% off its 52-week high of $15.31. The share price had its 52-week low at $10.30, which suggests the last value was 11.21% up since then. When we look at Telefonaktiebolaget LM Ericsson (publ)’s average trading volume, we note the 3-month average coming to 5.35 million.
Analysts gave the Telefonaktiebolaget LM Ericsson (publ) (ERIC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 1 out of 27 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 5 recommended ERIC as a Hold, 17 felt it is a Buy and 1 rated the stock as Underweight. Telefonaktiebolaget LM Ericsson (publ)’s EPS for the current quarter is expected to be $0.19.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) trade information
Instantly ERIC was in red as seen in intraday trades today. With action -1.60%, the performance over the past five days has been red. The drop to weekly highs of 11.96 on Tuesday, 09/14/21 subtracted -0.85% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.09%, with the 5-day performance at -1.60% in the red. However, in the 30-day time frame, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) is 0.60% up.
The consensus price target for the stock as assigned by Wall Street analysts is $14.94, meaning bulls need an upside of 22.36% from its recent market value. According to analyst projections, ERIC’s forecast low is $10.95 with $20.14 as the target high. To hit the forecast high, the stock’s price needs a -73.62% plunge from its current level, while the stock would need to tank 5.6% for it to hit the projected low.
Telefonaktiebolaget LM Ericsson (publ) (ERIC) estimates and forecasts
Data shows that the Telefonaktiebolaget LM Ericsson (publ) share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -15.09% over the past 6 months, a 12.50% in annual growth rate that is considerably lower than the industry average of 13.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Telefonaktiebolaget LM Ericsson (publ) will fall -5.00%. Year-over-year growth is forecast to reach 8.50% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $6.81 billion. 5 analysts are of the opinion that Telefonaktiebolaget LM Ericsson (publ)’s revenue for the quarter ending Dec 2021 will be $8.42 billion. The estimates for the next quarter sales put growth at 4.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.00%. The 2021 estimates are for Telefonaktiebolaget LM Ericsson (publ) earnings to increase by 682.40%, but the outlook for the next 5-year period is at 13.98% per year.
Telefonaktiebolaget LM Ericsson (publ) is expected to release its next quarterly earnings report in October. The 1.71% annual yield figure for the share gives it an annual dividend of 0.20. It is important to note, however, that the 1.71% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of Telefonaktiebolaget LM Ericsson (publ) shares while 9.94% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 9.94%. There are 9.94% institutions holding the Telefonaktiebolaget LM Ericsson (publ) stock share, with Primecap Management Company the top institutional holder. As of Jun 29, 2021, the company held 3.49% of the shares, roughly 107.26 million ERIC shares worth $1.35 billion.
Hotchkis & Wiley Capital Management, LLC holds the second largest percentage of outstanding shares, with 0.81% or 24.77 million shares worth $311.55 million as of Jun 29, 2021.
Among Mutual Funds, the top two as of Jun 29, 2021 were Vanguard/Primecap Fund and Primecap Odyssey Stock Fund. With 63.31 million shares estimated at $796.43 million under it, the former controlled 2.06% of total outstanding shares. On the other hand, Primecap Odyssey Stock Fund held about 0.34% of the shares, roughly 10.58 million shares worth around $133.05 million.