Zacks Research Analysts Decrease Earnings Estimates for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) – Equities researchers at Zacks Research cut their Q3 2024 earnings per share estimates for Telefonaktiebolaget LM Ericsson (publ) in a report issued on Tuesday, May 7th. Zacks Research analyst R. Department now anticipates that the communications equipment provider will post earnings of $0.09 per share for the quarter, down from their prior estimate of $0.11. The consensus estimate for Telefonaktiebolaget LM Ericsson (publ)’s current full-year earnings is $0.39 per share. Zacks Research also issued estimates for Telefonaktiebolaget LM Ericsson (publ)’s Q4 2024 earnings at $0.16 EPS.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Finally, UBS Group cut Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.6 %

ERIC opened at $5.29 on Friday. The business has a 50 day simple moving average of $5.32 and a 200-day simple moving average of $5.40. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $6.36. The stock has a market capitalization of $17.62 billion, a P/E ratio of -7.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.33 billion.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth about $36,000. Planned Solutions Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $38,000. NBC Securities Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 7,744 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $64,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after purchasing an additional 3,201 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.