Analysts Expect Telefonaktiebolaget LM Ericsson (ERIC) Will Announce Earnings of $0.06 Per Share

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.

TRADEMARK VIOLATION NOTICE: This story was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/05/20/analysts-expect-telefonaktiebolaget-lm-ericsson-eric-will-announce-earnings-of-0-06-per-share-updated-updated.html.

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.

5 Day Chart for NASDAQ:ERIC

Get a free copy of the Zacks research report on Telefonaktiebolaget LM Ericsson (ERIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Telefonaktiebolaget LM Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply