Stocks of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) traded higher last session on Wall Street, up 0.33% to $6.10.
According to the data, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has 28 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $9.94 and a low of $4.87, we find $7.53. Given the previous closing price of $6.08, this indicates a potential upside of 23.85 percent. ERIC stock price is now 0.51% away from the 50-day moving average and -21.75% away from the 200-day moving average. The market capitalization of the company currently stands at $20.52B.
A total of 10 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $7.46 as their price target over the next twelve months.
On October 24, 2022, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $10.80 to quote $6.10, while ‘Barclays’ rates the stock as ‘Overweight’.
A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ERIC stock. A new stake in Telefonaktiebolaget LM Ericsson (publ) shares was purchased by EASTERLY INVESTMENT PARTNERS LLC during the first quarter worth $3,955,000. PRICE T ROWE ASSOCIATES INC /MD/ invested $3,085,000 in shares of ERIC during the first quarter. In the first quarter, RUSSELL INVESTMENTS GROUP, LTD. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) valued at approximately $1,964,000. FNY INVESTMENT ADVISERS, LLC acquired a new stake in ERIC for approximately $1,525,000. MARINER, LLC purchased a new stake in ERIC valued at around $558,000 in the second quarter. In total, there are 368 active investors with 8.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $6.13 for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC). During the past 12 months, Telefonaktiebolaget LM Ericsson (publ) has had a low of $5.16 and a high of $12.78. As of last week, the company has a debt-to-equity ratio of 0.31, a current ratio of 1.20, and a quick ratio of 0.80. The fifty day moving average price for ERIC is $6.04 and a two-hundred day moving average price translates $7.76 for the stock.
The latest earnings results from Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) was released for Sep, 2022. According to the Communication Equipment Company, earnings per share came in at $0.16, inline with analysts’ expectations of $0.16. This compares to $0.20 EPS in the same period last year. The net profit margin was 8.80% and return on equity was 18.60% for ERIC. The company reported revenue of $6.46 billion for the quarter, compared to $6.51 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.81 percent. For the current quarter, analysts expect ERIC to generate $7.3B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/14/2022. Investors who held shares on 09/30/2022 were paid a $0.115552 dividend. On an annualized basis, this represents a $0.36 dividend and a 5.93% percent yield. There was an ex-dividend date of 09/29/2022 for this dividend. In terms of dividend payout ratio, ERIC is presently at 194.20%.
Telefonaktiebolaget LM Ericsson (publ)(ERIC) Company Profile
Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software. This segment also provides integrated antenna and transport solutions; and a range of service portfolio covering network deployment and support. The Digital Services segment offers software-based solutions for business support systems, operational support systems, communication services, core networks, and cloud infrastructure. The Managed Services segment provides networks and IT managed, network design and optimization, and application development and maintenance services to telecom operators. The Emerging Business and Other segment includes emerging businesses comprising Internet of Things; iconectiv; Cradlepoint that offers wireless edge WAN 4G and 5G enterprise solutions; and Red Bee Media, MediaKind, and other new businesses. It operates in North America, Europe and Latin America, the Middle East and Africa, South East Asia, Oceania, India, North East Asia, and internationally. Telefonaktiebolaget LM Ericsson (publ) was founded in 1876 and is headquartered in Stockholm, Sweden.