Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) is 13.89% higher on its value in year-to-date trading and has touched a low of $7.79 and a high of $15.31 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ERIC stock was last observed hovering at around $13.52 in the last trading session, with the day’s gains setting it 0.09% off its average median price target of $14.92 for the next 12 months. It is also 23.45% off the consensus price target high of $17.78 offered by 26 analysts, but current levels are -19.39% lower than the price target low of $11.40 for the same period.
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Currently trading at $13.61, the stock is 2.17% and 4.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.11 million and changing 0.67% at the moment leaves the stock 15.98% off its SMA200. ERIC registered 70.77% gain for a year compared to 6-month gain of 26.37%. The firm has a 50-day simple moving average (SMA 50) of $13.01 and a 200-day simple moving average (SMA200) of $12.12.
The stock witnessed a 12.76% loss in the last 1 month and extending the period to 3 months gives it a 11.56%, and is 2.48% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.52% over the week and 1.71% over the month.
Telefonaktiebolaget LM Ericsson (publ) (ERIC) has around 100824 employees, a market worth around $46.02B and $26.63B in sales. Current P/E ratio is 22.57 and Fwd P/E is 15.72. Profit margin for the company is 7.50%. Distance from 52-week low is 74.71% and -11.13% from its 52-week high. The company has generated returns on investments over the last 12 months (14.40%).
Telefonaktiebolaget LM Ericsson (publ) (ERIC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Telefonaktiebolaget LM Ericsson (publ) (ERIC) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 1.70, where 4 rate it as a Hold and 2 think it is a “Overweight”. 19 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Telefonaktiebolaget LM Ericsson (publ) is expected to release its quarterly report on 07/16/2021 and quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $6.53B over the same period.The EPS is expected to grow by 682.40% this year, but quarterly earnings will post 13.40% year-over-year. Quarterly sales are estimated to grow 26.10% in year-over-year returns.
Telefonaktiebolaget LM Ericsson (publ) (ERIC) Top Institutional Holders
413 institutions hold shares in Telefonaktiebolaget LM Ericsson (publ) (ERIC), with institutional investors hold 9.93% of the company’s shares. The shares outstanding are 3.33B, and float is at 3.00B with Short Float at 0.22%. Institutions hold 9.93% of the Float.
The top institutional shareholder in the company is Primecap Management Company with over 121.32 million shares valued at $1.45 billion. The investor’s holdings represent 3.95% of the ERIC Shares outstanding. As of Dec 30, 2020, the second largest holder is Hotchkis & Wiley Capital Management, LLC with 29.84 million shares valued at $356.65 million to account for 0.97% of the shares outstanding. The other top investors are Neuberger Berman Group, LLC which holds 18.35 million shares representing 0.60% and valued at over $219.29 million, while Ameriprise Financial, Inc. holds 0.20% of the shares totaling 6.17 million with a market value of $73.75 million.
Telefonaktiebolaget LM Ericsson (publ) (ERIC): Who are the competitors?
The company’s main competitors (and peers) include BlackBerry Limited (BB) that is trading 156.03% up over the past 12 months and Harmonic Inc. (HLIT) that is 38.11% higher over the same period. Motorola Solutions Inc. (MSI) is 34.80% up on the 1-year trading charts. Short interest in the company’s stock has fallen -54.25% from the last report on Mar 14, 2021 to stand at a total of 6.54 million short shares sold with a short interest ratio of 0.92.