In today’s recent session, 4.15 million shares of the Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) have been traded, and its beta is 0.82. Most recently the company’s share price was $7.98, and it changed around -$0.33 or -3.97% from the last close, which brings the market valuation of the company to $24.51B. ERIC at last check was trading at a discount to its 52-week high of $8.62, offering almost -8.02% off that amount. The share price’s 52-week low was $4.77, which indicates that the recent value has risen by an impressive 40.23% since then. We note from Telefonaktiebolaget L M Ericsson ADR’s average daily trading volume that its 10-day average is 21.09 million shares, with the 3-month average coming to 16.47 million.
Telefonaktiebolaget L M Ericsson ADR stock received a consensus recommendation rating of Hold, based on a mean score of 2.85. If we narrow it down even further, the data shows that 2 out of 15 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 6 recommended ERIC as a Hold, whereas 2 deemed it a Buy, and 3 rated it as Underweight. Telefonaktiebolaget L M Ericsson ADR is expected to report earnings per share of 0.23 for the current quarter.
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Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) trade information
Instantly ERIC has been showing red trend so far today with a performance of -3.97% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 8.52 on recent trading dayincreased the stock’s daily price by 6.34%. The company’s shares are currently up 26.67% year-to-date, but still down -0.13% over the last five days. On the other hand, Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) is -5.34% down in the 30-day period. We can see from the shorts that 29.77 million shares have been sold at a short interest cover period of 1.83 day(s).
The consensus price target as assigned by Wall Street analysts is $6.94, which translates to bulls needing to decrease their stock price by -14.99% 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 34.12 percent over the past six months and at a 2.33% annual growth rate that is well below the industry average of 20.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 60.25% in revenue this quarter, and will report a decrease of -14.29% in the next quarter. The year-over-year growth rate is expected to be -5.98%, down from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of 72.5B in revenue for the current quarter. 4 analysts expect Telefonaktiebolaget L M Ericsson ADR to make 55.58B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 71.88B and 53.33B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.86%. Forecasts for the next quarter put sales growth at 4.24%.
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 109.25% 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 December. The annual dividend yield of the stock is 3.23 percent and its annual dividend per share was 0.26. It is important to note, however, that the 3.23% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.87 per year.
Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC)’s Major holders
PRIMECAP MANAGEMENT CO/CA/, with 1.4492% or 48.27 million shares worth $297.84 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard/Windsor II and Vanguard/Primecap Fund were the top two Mutual Funds as of Jul 31, 2024. The former held 66.79 shares worth $532.69 million, making up 2.16% of all outstanding shares. On the other hand, Vanguard/Primecap Fund held roughly 33.31 shares worth around $265.62 million, which represents about 1.08% of the total shares outstanding.
