During the last session, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC)’s traded shares were 19.04 million, with the beta value of the company hitting 0.84. At the end of the trading day, the stock’s price was $8.51, reflecting an intraday loss of -0.82% or -$0.07. The 52-week high for the ERIC share is $8.62, that puts it down -1.29 from that peak though still a striking 49.12% gain since the share price plummeted to a 52-week low of $4.33. The company’s market capitalization is $26.13B, and the average intraday trading volume over the past 10 days was 17.19 million shares, and the average trade volume was 16.51 million shares over the past three months.
Telefonaktiebolaget L M Ericsson ADR (ERIC) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.88. ERIC has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.21.
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Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) trade information
Telefonaktiebolaget L M Ericsson ADR (ERIC) registered a -0.82% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.82% in intraday trading to $8.51, hitting a weekly high. The stock’s 5-day price performance is 1.07%, and it has moved by 13.62% in 30 days. Based on these gigs, the overall price performance for the year is 95.18%. The short interest in Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) is 26.7 million shares and it means that shorts have 1.79 day(s) to cover.
The consensus price target of analysts on Wall Street is $6.94, which implies a decrease of -22.62% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.1 and $7.78 respectively. As a result, ERIC is trading at a premium of 8.58% off the target high and 28.32% off the low.
Telefonaktiebolaget L M Ericsson ADR (ERIC) estimates and forecasts
Statistics show that Telefonaktiebolaget L M Ericsson ADR has underperformed its competitors in share price, compared to the industry in which it operates. Telefonaktiebolaget L M Ericsson ADR (ERIC) shares have gone up 67.52% during the last six months, with a year-to-date growth rate less than the industry average at 4.65% against 4.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 31.20% this quarter and then jump 12.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -5.40% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 7.05B as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 5.54B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 6.75B and 5.29B respectively. In this case, analysts expect current quarter sales to grow by 4.50% and then jump by 4.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -26.83%. While earnings are projected to return 109.09% in 2024, the next five years will return 1.50% per annum.
ERIC Dividends
Telefonaktiebolaget L M Ericsson ADR is due to release its next quarterly earnings in November. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Telefonaktiebolaget L M Ericsson ADR is 0.26, with the dividend yield indicating at 3.03 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.84%.
The next largest institutional holding, with 48.27 million shares, is of PRIMECAP MANAGEMENT CO/CA/’s that is approximately 1.4492% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $297.84 million.
