11 September, 2017
Telefonaktiebolaget LM Ericsson (publ) (ERIC) stock go down so far this year; showing a decline of -1.89% and dropped with negative flow of -1.89% during recent week. Two analysts have issued estimates for Ericsson's earnings. The highest sales estimate is $5.79 billion and the lowest is $5.63 billion. Brandes Investment Partners LP boosted its stake in Ericsson by 32.6% in the second quarter.
Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $49.90 billion for the quarter, compared to analysts' expectations of $50.66 billion. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%.
While considering growth estimates of the company, it has next quarter growth estimates of 42.9% whereas during current quarter it has -50% estimations over growth, comparing to the estimations of -25.8% during current year and 43.5% for next year. Analysts expect next quarter's EPS will be $0.10 with next year's EPS projected to be $0.33.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded Ericsson from a "strong sell" rating to a "hold" rating in a research report on Monday, July 17th. Danske downgraded shares of Ericsson from a "buy" rating to a "hold" rating in a research report on Thursday, August 31st.
On the other hand the company has Relative Strength Index (RSI 14) of 26.06 along with Average True Range (ATR 14) of 0.08, Consequently Ericsson ADR (NASDAQ:ERIC)'s weekly and monthly volatility is 1.01%, 1.13% respectively. Canaccord Genuity restated a "neutral - hold" rating and set a $7.00 price target on shares of Ericsson in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time.
Several other large investors have also recently made changes to their positions in ERIC. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider's stock worth $543,829,000 after acquiring an additional 2,290,675 shares in the last quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company's stock valued at $79,327,000 after buying an additional 2,541,781 shares during the last quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider's stock worth $105,000 after buying an additional 1,181 shares during the last quarter. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Morgan Stanley boosted its position in Ericsson by 113.3% in the first quarter. As of quarter end Jane Street Group, LLC had acquired a total of 1,343,064 shares growing its holdings by 628.8%. Parametric Portfolio Associates LLC now owns 3,167,532 shares of the communications equipment provider's stock worth $22,711,000 after acquiring an additional 54,557 shares in the last quarter.
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Ericsson (NASDAQ:ERIC) traded down 1.52% during mid-day trading on Thursday, hitting $5.82.
Often times, investors may become anxious when the stock market is highly volatile. The stock has advanced 18.43% to a low over the previous 12 months and showed declining move -23.43% to a high over the same period. The stock has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00.
