Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) does about 10.99M shares in volume on a normal day but saw 13053791 shares change hands in Monday trading. The company now has a market cap of 20.70B USD. Its current market price is $5.84, marking an increase of 2.82% compared to the previous close of $5.68. The 52 week high reached by this stock is $12.78 whilst the lowest price level in 52 weeks is $5.16. The script in recent trading has seen the stock touch a high of $5.91 and a low of $5.82.
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Telefonaktiebolaget LM Ericsson (publ) (ERIC) has a 20-day trading average at $5.96 and the current price is -54.30% off the 52-week high compared with 13.29% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.09 and its 200-day simple moving average is $7.00. If we look at the stock’s price movements over the week, volatility stands at 2.30%, which decreases to 1.91% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 44.49 to suggest the stock is neutral.
The consensus objective for the share price is $7.69, suggesting that the stock has a potential upside of 24.06% over the period.
FactSet Research has provided data showing that 30 brokerages have issued ratings for the stock. 4 analysts have rated it as a sell, while 4 advise that it is a overweight. 7 analysts have rated it as a buy and 13 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Moderate Buy the stock.
Goldman downgraded its price target at $10.80-$6.10.
The current price level is -2.08%, -4.11%, and -16.75% away from its SMA20, SMA50, and SMA200 respectively, with the ERIC price moving above the 50-day SMA on January 23. Telefonaktiebolaget LM Ericsson (publ) (ERIC) stock is down -3.63% over the week and 1.39% over the past month. Its price is 0.00% year-to-date and -48.13% over the past year.
ERIC’s earnings per share are forecast to shrink by -30.60% this year and 11.90% over next year. Expected sales for next quarter are $5.43 billion, which analysts say will come at $25.13 billion for the current fiscal year and next year at $26.08 billion. In addition, estimates put the company’s current quarterly revenue at an average of $7.3 billion.
To reach the target analysts have set, the stock logically needs to grow 24.06 percent from here.
Outstanding shares total 3.33B with insiders holding 0.00% of the shares and institutional holders owning 8.92% of the company’s common stock. The company has a return on investment of 17.00% and return on equity of 19.00%. The price to earnings ratio (P/E ratio) amounts to 8.82 while the forward price to earnings ratio is 8.59. The beta has a value of 0.57. Price to book ratio is 1.45 and price to sales ratio is 0.83.
According to a U.S. Securities and Exchange Commission filing, Vanguard PRIMECAP Fund has reduced its position in Telefonaktiebolaget LM Ericsson (publ) (ERIC) to 52,002,338 shares, mirroring a recent drop by -5.89%. Vanguard PRIMECAP Fund dumped -3.25 million shares of Telefonaktiebolaget LM Ericsson (publ) common stock bringing its total worth to about $303.69 million at the end of recent close, SEC documents show. Vanguard PRIMECAP Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Windsor Funds – Vanguard, which added 4.05 million shares to end up with 19,799,680 shares worth $115.63 million. Vanguard PRIMECAP Core Fund cut their holdings by -6.21% in the company over the course of the most recent quarter. It now holds a 0.27% position in Telefonaktiebolaget LM Ericsson (publ) thanks to 8.3 million shares amounting to $48.5 million.
