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Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) Must Gain 32.01% To Achieve Consensus Price Target

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has a beta value of 0.43 and has seen 6.13 million shares traded in the last trading session. The company, currently valued at $22.03B, closed the last trade at $6.50 per share which meant it lost -$0.16 on the day or -2.40% during that session. The ERIC stock price is -96.62% off its 52-week high price of $12.78 and -1.23% below the 52-week low of $6.58. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.06 million shares traded. The 3-month trading volume is 6.16 million shares.

The consensus among analysts is that Telefonaktiebolaget LM Ericsson (publ) (ERIC) is an Overweight stock at the moment, with a recommendation rating of 2.30. 1 analysts rate the stock as a Sell, while 3 rate it as Overweight. 6 out of 25 have rated it as a Hold, with 14 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.16.

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Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) trade information

Sporting -2.40% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the ERIC stock price touched $6.50 or saw a rise of 8.58%. Year-to-date, Telefonaktiebolaget LM Ericsson (publ) shares have moved -40.20%, while the 5-day performance has seen it change -9.97%. Over the past 30 days, the shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have changed -14.36%. Short interest in the company has seen 8.74 million shares shorted with days to cover at 1.04.

Wall Street analysts have a consensus price target for the stock at $9.56, which means that the shares’ value could jump 32.01% from current levels. The projected low price target is $6.46 while the price target rests at a high of $12.00. In that case, then, we find that the current price level is -84.62% off the targeted high while a plunge would see the stock lose 0.62% from current levels.

Telefonaktiebolaget LM Ericsson (publ) (ERIC) estimates and forecasts

Figures show that Telefonaktiebolaget LM Ericsson (publ) shares have underperformed across the wider relevant industry. The company’s shares have lost -28.18% over the past 6 months, with this year growth rate of -27.06%, compared to 22.30% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -23.80% and -33.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be -6.00%.

5 analysts offering their estimates for the company have set an average revenue estimate of $6.15 billion for the current quarter. 5 have an estimated revenue figure of $7.34 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $6.51 billion and $8.05 billion respectively for this quarter and the next, and analysts expect sales will shrink by -5.50% for the current quarter and -8.80% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 92.90% over the past 5 years. Earnings growth for 2022 is a modest 29.60% while over the next 5 years, the company’s earnings are expected to increase by 9.23%.

ERIC Dividends

Telefonaktiebolaget LM Ericsson (publ) is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.25 at a share yield of 3.86%. The company’s dividend yield has gone up over the past 12 months.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s Major holders

Insiders own 0.00% of the company shares, while shares held by institutions stand at 8.96% with a share float percentage of 8.96%. Investors are also buoyed by the number of investors in a company, with Telefonaktiebolaget LM Ericsson (publ) having a total of 384 institutions that hold shares in the company. The top two institutional holders are Primecap Management Company with over 95.25 million shares worth more than $870.61 million. As of Mar 30, 2022, Primecap Management Company held 3.10% of shares outstanding.

The other major institutional holder is Hotchkis & Wiley Capital Management, LLC, with the holding of over 42.69 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $390.18 million and represent 1.39% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard/Primecap Fund and Vanguard/Windsor II. As of Mar 30, 2022, the former fund manager holds about 1.85% shares in the company for having 56.75 million shares of worth $518.73 million while later fund manager owns 17.5 million shares of worth $139.33 million as of Apr 29, 2022, which makes it owner of about 0.57% of company’s outstanding stock.

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