$6.40 Billion in Sales Expected for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) This Quarter

Brokerages expect Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) to announce sales of $6.40 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Telefonaktiebolaget LM Ericsson (publ)’s earnings, with the highest sales estimate coming in at $6.61 billion and the lowest estimate coming in at $6.20 billion. Telefonaktiebolaget LM Ericsson (publ) reported sales of $6.53 billion during the same quarter last year, which indicates a negative year over year growth rate of 2%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Telefonaktiebolaget LM Ericsson (publ) will report full-year sales of $26.49 billion for the current financial year, with estimates ranging from $26.08 billion to $27.28 billion. For the next financial year, analysts expect that the firm will report sales of $27.10 billion, with estimates ranging from $26.42 billion to $27.98 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Telefonaktiebolaget LM Ericsson (publ).

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 23.65% and a net margin of 9.47%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.88 billion.

Several analysts have recently commented on the stock. TheStreet downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “b-” rating to a “c” rating in a report on Wednesday, May 11th. Credit Suisse Group cut their price target on Telefonaktiebolaget LM Ericsson (publ) from SEK 134 to SEK 120 in a research report on Thursday, April 21st. Grupo Santander raised Telefonaktiebolaget LM Ericsson (publ) from an “underperform” rating to an “outperform” rating and set a SEK 106 price objective for the company in a report on Friday, April 8th. Cowen dropped their target price on Telefonaktiebolaget LM Ericsson (publ) from $16.00 to $15.00 in a report on Monday, April 18th. Finally, UBS Group upgraded Telefonaktiebolaget LM Ericsson (publ) from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has a consensus rating of “Hold” and an average target price of $76.31.

Shares of NASDAQ:ERIC opened at $7.98 on Tuesday. Telefonaktiebolaget LM Ericsson has a twelve month low of $7.30 and a twelve month high of $13.51. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. The company has a market cap of $26.61 billion, a PE ratio of 10.50 and a beta of 0.39. The company’s 50 day moving average is $8.60 and its 200 day moving average is $9.94.

Institutional investors have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter valued at about $158,270,000. Credit Suisse AG lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 623.1% in the third quarter. Credit Suisse AG now owns 5,544,682 shares of the communications equipment provider’s stock valued at $62,101,000 after acquiring an additional 4,777,913 shares in the last quarter. AGF Investments Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the first quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock worth $39,531,000 after acquiring an additional 2,297,972 shares during the last quarter. Renaissance Group LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 6.2% in the third quarter. Renaissance Group LLC now owns 813,472 shares of the communications equipment provider’s stock worth $9,111,000 after acquiring an additional 47,420 shares during the last quarter. Finally, Madison Asset Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.7% during the third quarter. Madison Asset Management LLC now owns 359,913 shares of the communications equipment provider’s stock worth $4,031,000 after purchasing an additional 5,952 shares in the last quarter.

About Telefonaktiebolaget LM Ericsson (publ) (Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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