Stocks of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) traded higher last session on Wall Street, up 0.39% to $5.15.
According to the data, Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has 27 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 $8.65 and a low of $4.40, we find $6.01. Given the previous closing price of $5.13, this indicates a potential upside of 17.15 percent. ERIC stock price is now 1.43% away from the 50-day moving average and -6.04% away from the 200-day moving average. The market capitalization of the company currently stands at $17.30B.
A total of 15 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $6.15 as their price target over the next twelve months.
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 FOLKETRYGDFONDET during the first quarter worth $65,292,000. POINT72 ASSET MANAGEMENT, L.P. invested $17,557,000 in shares of ERIC during the first quarter. In the first quarter, CLEAR STREET MARKETS LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) valued at approximately $2,480,000. KOVACK ADVISORS, INC. acquired a new stake in ERIC for approximately $1,761,000. WESTERLY CAPITAL MANAGEMENT, LLC purchased a new stake in ERIC valued at around $1,030,000 in the second quarter. In total, there are 323 active investors with 8.20% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $5.21 for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC). During the past 12 months, Telefonaktiebolaget LM Ericsson (publ) has had a low of $4.83 and a high of $6.82. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.10, and a quick ratio of 0.80. The fifty day moving average price for ERIC is $5.07 and a two-hundred day moving average price translates $5.47 for the stock.
The latest earnings results from Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) was released for Jun, 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 4.30% and return on equity was 9.10% 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 $6.08B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/04/2023. Investors who held shares on 09/29/2023 were paid a $0.12471 dividend. On an annualized basis, this represents a $0.37 dividend and a 7.15% percent yield. There was an ex-dividend date of 09/28/2023 for this dividend. In terms of dividend payout ratio, ERIC is presently at 793.60%.
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, Cloud Software and Services, Enterprise, 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 active antenna and transport solutions; and a range of service portfolio covering network deployment and support. The Cloud Software and Services segment offers core networks, business and operational support systems, network design and optimization, and network managed services. The Enterprise segment offers global communications platform including cloud-based unified communications as a service, contact center as a service, and communications platform as a service; enterprise wireless solutions comprise private wireless networks and wireless wan pre-packaged solutions; and technologies and new business solutions, such as mobile financial services, security solutions, and advertising services. The Other segment includes Redbee media that prepares and distributes live and video services for broadcasters, sports leagues, and communications service providers. 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.
