In today’s recent session, 4.54 million shares of the Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) have been traded, and its beta is 0.77. Most recently the company’s share price was $5.50, and it changed around -$0.01 or -0.18% from the last close, which brings the market valuation of the company to $16.88B. ERIC at last check was trading at a discount to its 52-week high of $6.36, offering almost -15.64% off that amount. The share price’s 52-week low was $4.33, which indicates that the recent value has risen by an impressive 21.27% since then. We note from Telefonaktiebolaget L M Ericsson ADR’s average daily trading volume that its 10-day average is 15.31 million shares, with the 3-month average coming to 16.44 million.
Telefonaktiebolaget L M Ericsson ADR stock received a consensus recommendation rating of Hold, based on a mean score of 2.64. If we narrow it down even further, the data shows that 3 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended ERIC as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Telefonaktiebolaget L M Ericsson ADR is expected to report earnings per share of $0.05 for the current quarter.
Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) trade information
Instantly ERIC has been showing red trend so far today with a performance of -0.18% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -12.70% year-to-date, but still up 1.29% over the last five days. On the other hand, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) is 1.10% up in the 30-day period. We can see from the shorts that 29.9 million shares have been sold at a short interest cover period of 2.09 day(s).
The consensus price target as assigned by Wall Street analysts is $6.94, which translates to bulls needing to increase their stock price by 20.75% from its current value. Analyst projections state that ERIC is forecast to be at a low of $6.1 and a high of $7.78.
Telefonaktiebolaget L M Ericsson ADR (ERIC) estimates and forecasts
Telefonaktiebolaget L M Ericsson ADR share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 14.82 percent over the past six months and at a -2.33% annual growth rate that is well below the industry average of -1.30%. The year-over-year growth rate is expected to be -0.20%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $5.34 billion in revenue for the current quarter. 3 analysts expect Telefonaktiebolaget L M Ericsson ADR to make $5.79 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $5.99 billion and $6.12 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -10.90%. Forecasts for the next quarter put sales growth at -5.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -26.83%. Telefonaktiebolaget L M Ericsson ADR earnings are expected to increase by 155.56% in 2024, but the outlook is positive 1.50% per year for the next five years.
ERIC Dividends
Telefonaktiebolaget L M Ericsson ADR’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 2.22 percent and its annual dividend per share was 0.12. It is important to note, however, that the 2.22% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.00% of Telefonaktiebolaget L M Ericsson ADR shares, and 9.06% of them are in the hands of institutional investors. The stock currently has a share float of 9.06%. Telefonaktiebolaget L M Ericsson ADR stock is held by 295 institutions, with Hotchkis & Wiley Capital Management, LLC being the largest institutional investor. By Jun 29, 2023, it held 3.39% of the shares, which is about 104.62 million shares worth $570.17 million.
Primecap Management Company, with 1.79% or 55.22 million shares worth $300.94 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard/Windsor II and Vanguard/Primecap Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 54.6 million shares worth $275.74 million, making up 1.77% of all outstanding shares. On the other hand, Vanguard/Primecap Fund held roughly 38.74 million shares worth around $211.15 million, which represents about 1.26% of the total shares outstanding.
