Wall Street brokerages predict that Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) will announce earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Telefonaktiebolaget LM Ericsson’s earnings, with estimates ranging from $0.05 to $0.06. Telefonaktiebolaget LM Ericsson posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year over year growth rate of 40%. The business is scheduled to issue its next quarterly earnings report on Tuesday, July 18th.
On average, analysts expect that Telefonaktiebolaget LM Ericsson will report full-year earnings of $0.29 per share for the current financial year, with EPS estimates ranging from $0.28 to $0.29. For the next financial year, analysts anticipate that the business will post earnings of $0.38 per share, with EPS estimates ranging from $0.32 to $0.47. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Telefonaktiebolaget LM Ericsson.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 25th. The communications equipment provider reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.30. The firm earned $46.40 billion during the quarter, compared to the consensus estimate of $47.36 billion. Telefonaktiebolaget LM Ericsson had a return on equity of 6.20% and a net margin of 0.85%. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 earnings per share.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. BMO Capital Markets reissued a “market perform” rating on shares of Telefonaktiebolaget LM Ericsson in a research note on Friday, March 17th. Cowen and Company reissued a “market perform” rating and issued a $3.00 price target (down previously from $4.00) on shares of Telefonaktiebolaget LM Ericsson in a research note on Saturday. Sanford C. Bernstein raised shares of Telefonaktiebolaget LM Ericsson from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 29th. Finally, Goldman Sachs Group Inc raised shares of Telefonaktiebolaget LM Ericsson from a “sell” rating to a “buy” rating and lifted their price target for the company from $5.70 to $7.80 in a research note on Thursday, March 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.19.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) traded up 0.31% during trading on Tuesday, hitting $6.49. 4,946,287 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $6.47 and its 200 day moving average price is $5.86. The firm’s market cap is $21.24 billion. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.83 and a 12-month high of $8.13.
The company also recently disclosed a dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 31st were issued a $0.068 dividend. The ex-dividend date of this dividend was Thursday, March 30th. Telefonaktiebolaget LM Ericsson’s payout ratio is currently 428.63%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the third quarter worth $104,000. Riverhead Capital Management LLC raised its position in Telefonaktiebolaget LM Ericsson by 11.2% in the third quarter. Riverhead Capital Management LLC now owns 46,600 shares of the communications equipment provider’s stock valued at $336,000 after buying an additional 4,712 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Telefonaktiebolaget LM Ericsson during the third quarter valued at approximately $504,000. Snow Capital Management LP raised its position in Telefonaktiebolaget LM Ericsson by 218.1% in the third quarter. Snow Capital Management LP now owns 32,210 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 22,085 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Telefonaktiebolaget LM Ericsson during the third quarter valued at approximately $415,000. Institutional investors own 7.51% of the company’s stock.
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Telefonaktiebolaget LM Ericsson Company Profile
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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