The price of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares last traded on Wall Street fell -0.19% to $5.25.
Based on available information, 28 analysts follow Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.28 and a low of $4.65, we find $6.50. Given the previous closing price of $5.26, this indicates a potential upside of 23.57 percent. ERIC stock price is now -4.34% away from the 50-day moving average and -13.41% away from the 200-day moving average. The market capitalization of the company currently stands at $17.89B.
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Among analysts, 13 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $6.69 as their price target over the next twelve months.
On January 24, 2023, Goldman Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock reducing its target price from $6.60 to quote $4.90, while ‘Exane BNP Paribas’ rates the stock as ‘Neutral’.
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 SEGANTII CAPITAL MANAGEMENT LTD during the first quarter worth $10,710,000. EVERGREEN CAPITAL MANAGEMENT LLC invested $5,003,000 in shares of ERIC during the first quarter. In the first quarter, RUFFER LLP acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) valued at approximately $1,313,000. MONACO ASSET MANAGEMENT SAM acquired a new stake in ERIC for approximately $525,000. GUGGENHEIM CAPITAL LLC purchased a new stake in ERIC valued at around $435,000 in the second quarter. In total, there are 351 active investors with 8.20% ownership of the company’s stock.
A candlestick chart of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) showed a price of $5.23 on Thursday morning. During the past 12 months, Telefonaktiebolaget LM Ericsson (publ) has had a low of $5.13 and a high of $8.34. As of last week, the company has a debt-to-equity ratio of 0.34, a current ratio of 1.10, and a quick ratio of 0.80. The fifty day moving average price for ERIC is $5.48 and a two-hundred day moving average price translates $6.05 for the stock.
The latest earnings results from Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) was released for Mar, 2023. According to the Communication Equipment Company, earnings per share came in at $0.09, beating analysts’ expectations of $0.05 by 0.04. This compares to $0.17 EPS in the same period last year. The net profit margin was 6.20% and return on equity was 13.00% for ERIC. The company reported revenue of $5.98 billion for the quarter, compared to $5.9 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.41 percent. For the current quarter, analysts expect ERIC to generate $6.13B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 03/31/2023 were paid a $0.131802 dividend. On an annualized basis, this represents a $0.24 dividend and a 4.65% percent yield. There was an ex-dividend date of 03/30/2023 for this dividend. In terms of dividend payout ratio, ERIC is presently at 234.60%.
