In last trading session, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) saw 20.94 million shares changing hands with its beta currently measuring 0.84. Company’s recent per share price level of $8.50 trading at $0.22 or 2.66% at ring of the bell on the day assigns it a market valuation of $26.10B. That closing price of ERIC’s stock is at a discount of -1.41% from its 52-week high price of $8.62 and is indicating a premium of 49.06% from its 52-week low price of $4.33. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 16.11 million shares which gives us an average trading volume of 16.74 million if we extend that period to 3-months.
For Telefonaktiebolaget L M Ericsson ADR (ERIC), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 2.88. Splitting up the data highlights that, out of 9 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.21 in the current quarter.
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Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) trade information
Upright in the green during last session for gaining 2.66%, in the last five days ERIC remained trading in the green while hitting it’s week-highest on Tuesday, 10/15/24 when the stock touched $8.50 price level, adding 1.39% to its value on the day. Telefonaktiebolaget L M Ericsson ADR’s shares saw a change of 34.92% in year-to-date performance and have moved 13.18% in past 5-day. Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) showed a performance of 13.94% in past 30-days. Number of shares sold short was 30.78 million shares which calculate 1.99 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 6.94 to the stock, which implies a fall of -22.48% to its current value. Analysts have been projecting 6.1 as a low price target for the stock while placing it at a high target of 7.78. It follows that stock’s current price would jump 28.24% in reaching the projected high whereas dropping to the targeted low would mean a gain of 28.24% for stock’s current value.
Telefonaktiebolaget L M Ericsson ADR (ERIC) estimates and forecasts
Statistics highlight that Telefonaktiebolaget L M Ericsson ADR is scoring comparatively lower than the scores of other players of the relevant industry. The company added 66.67% of value to its shares in past 6 months, showing an annual growth rate of 4.65% while that of industry is 5.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -5.00% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 7.05B for the same. And 3 analysts are in estimates of company making revenue of 5.55B in the next quarter. Company posted 6.75B and 5.29B of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -26.83% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 108.14% while estimates for its earnings growth in next 5 years are of 1.50%.
ERIC Dividends
Telefonaktiebolaget L M Ericsson ADR is more likely to be releasing its next quarterly report on 2025-Jan-21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 3.03%, the share has a forward dividend of 0.26 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 2.84%.
Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC)’s Major holders
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC is the top institutional holder at ERIC for having 152.31 million shares of worth $939.73 million. And as of 2024-06-30, it was holding 4.5724 of the company’s outstanding shares.
The second largest institutional holder is PRIMECAP MANAGEMENT CO/CA/, which was holding about 48.27 million shares on 2024-06-30. The number of shares represents firm’s hold over 1.4492 of outstanding shares, having a total worth of $297.84 million.
