Telefonaktiebolaget L M Ericsson ADR Stock Forecast 2023: Telefonaktiebolaget L M Ericsson ADR Is Weak With -79.84% Downside

In the latest trading session, 3.17 million Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) shares changed hands as the company’s beta touched 0.65. With the company’s most recent per share price at $5.01 changed hands at -$0.03 or -0.69% at last look, the market valuation stands at $15.36B. ERIC’s current price is a discount, trading about -36.13% off its 52-week high of $6.82. The share price had its 52-week low at $4.33, which suggests the last value was 13.57% up since then. When we look at Telefonaktiebolaget L M Ericsson ADR’s average trading volume, we note the 10-day average is 7.38 million shares, with the 3-month average coming to 8.98 million.

Analysts gave the Telefonaktiebolaget L M Ericsson ADR (ERIC) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.54. If we narrow down to specifics, the data shows that 1 out of 26 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 15 recommended ERIC as a Hold, 8 felt it is a Buy and 2 rated the stock as Underweight. Telefonaktiebolaget L M Ericsson ADR’s EPS for the current quarter is expected to be $0.15.

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Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) trade information

Instantly ERIC was in red as seen in intraday trades today. With action 4.27%, the performance over the past five days has been green. The drop to weekly highs of 5.05 on Monday, 11/20/23 subtracted -0.69% to the stock’s daily price. The company’s shares are showing year-to-date downside of -14.30%, with the 5-day performance at 4.27% in the green. However, in the 30-day time frame, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) is 12.98% up. Looking at the short shares, we see there were 27.18 million shares sold at short interest cover period of 1.95 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.53, meaning bulls need an upside of 9.4% from its recent market value. According to analyst projections, ERIC’s forecast low is $3.85 with $9.01 as the target high. To hit the forecast high, the stock’s price needs a -79.84% plunge from its current level, while the stock would need to tank 23.15% for it to hit the projected low.

Telefonaktiebolaget L M Ericsson ADR (ERIC) estimates and forecasts

Data shows that the Telefonaktiebolaget L M Ericsson ADR 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 -4.12% over the past 6 months, a -75.41% in annual growth rate that is considerably lower than the industry average of 8.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Telefonaktiebolaget L M Ericsson ADR will fall -28.60%, while the growth in revenue is estimated to hit -44.40% for the next quarter. Year-over-year growth is forecast to reach -6.90% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $6.9 billion. 3 analysts are of the opinion that Telefonaktiebolaget L M Ericsson ADR’s revenue for the quarter ending Mar 2024 will be $5.36 billion. The company’s revenue for the corresponding quarters a year ago was $8.03 billion and $5.99 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -14.00%. The estimates for the next quarter sales put growth at -10.60%.

The 2023 estimates are for Telefonaktiebolaget L M Ericsson ADR earnings to decrease by -229.90%, but the outlook for the next 5-year period is at -1.30% per year.

ERIC Dividends

Telefonaktiebolaget L M Ericsson ADR is expected to release its next quarterly earnings report in December. The 4.50% annual yield figure for the share gives it an annual dividend of 0.23. It is important to note, however, that the 4.50% 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 L M Ericsson ADR (NASDAQ:ERIC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of Telefonaktiebolaget L M Ericsson ADR shares while 8.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 8.33%. There are 8.33% institutions holding the Telefonaktiebolaget L M Ericsson ADR stock share, with Hotchkis & Wiley Capital Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 3.39% of the shares, roughly 104.62 million ERIC shares worth $570.17 million.

Primecap Management Company holds the second largest percentage of outstanding shares, with 1.79% or 55.22 million shares worth $300.94 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Vanguard/Windsor II and Vanguard/Primecap Fund. With 54.6 million shares estimated at $275.74 million under it, the former controlled 1.77% of total outstanding shares. On the other hand, Vanguard/Primecap Fund held about 1.26% of the shares, roughly 38.74 million shares worth around $211.15 million.

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