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Why Telefonaktiebolaget L M Ericsson ADR (NASDAQ: ERIC) Stock Shouldn’t Be Sold In 2024

In the last trading session, 11.91 million Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) shares changed hands as the company’s beta touched 0.77. With the company’s per share price at $5.47 changed hands at -$0.02 or -0.36% during last session, the market valuation stood at $16.78B. ERIC’s last price was a discount, traded about -16.27% off its 52-week high of $6.36. The share price had its 52-week low at $4.33, which suggests the last value was 20.84% up since then. When we look at Telefonaktiebolaget L M Ericsson ADR’s average trading volume, we note the 10-day average is 18.36 million shares, with the 3-month average coming to 0.83.

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

Instantly ERIC was in red as seen at the end of in last trading. With action 3.01%, the performance over the past five days has been green. The drop to weekly highs of 5.49 subtracted -0.36% to the stock’s daily price. The company’s shares are showing year-to-date downside of -13.17%, with the 5-day performance at 3.01% in the green. However, in the 30-day time frame, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) is -11.20% down. Looking at the short shares, we see there were 27.8 million shares sold at short interest cover period of 1.81 days.

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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 10.73% over the past 6 months, a -2.33% in annual growth rate that is considerably lower than the industry average of 9.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Telefonaktiebolaget L M Ericsson ADR will fall -44.40%, while the growth in revenue is estimated to hit 0.00% for the next quarter. Year-over-year growth is forecast to reach 0.10% up 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 $5.34 billion. 3 analysts are of the opinion that Telefonaktiebolaget L M Ericsson ADR’s revenue for the quarter ending Jun 2024 will be $5.79 billion. The company’s revenue for the corresponding quarters a year ago was $5.99 billion and $6.12 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -10.90%. The estimates for the next quarter sales put growth at -5.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -26.83%. The 2024 estimates are for Telefonaktiebolaget L M Ericsson ADR earnings to increase by 155.90%, but the outlook for the next 5-year period is at 1.50% per year.

ERIC Dividends

Telefonaktiebolaget L M Ericsson ADR is expected to release its next quarterly earnings report in March. The 4.62% annual yield figure for the share gives it an annual dividend of 0.25. It is important to note, however, that the 4.62% 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 9.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 9.25%. There are 9.25% institutions holding the Telefonaktiebolaget L M Ericsson ADR stock share, with Hotchkis & Wiley Capital Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 4.60% of the shares, roughly 141.93 million ERIC shares worth $776.38 million.

Primecap Management Company holds the second largest percentage of outstanding shares, with 1.75% or 53.96 million shares worth $295.18 million as of Dec 30, 2023.

Among Mutual Funds, the top two as of Oct 30, 2023 were Vanguard/Windsor II and Vanguard/Primecap Fund. With 69.41 million shares estimated at $379.7 million under it, the former controlled 2.25% 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 $211.93 million.

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