Zacks Research Weighs in on Telefonaktiebolaget LM Ericsson (publ)’s FY2023 Earnings (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Rating) – Research analysts at Zacks Research upped their FY2023 earnings estimates for shares of Telefonaktiebolaget LM Ericsson (publ) in a research report issued on Tuesday, May 16th. Zacks Research analyst A. Chatterjee now anticipates that the communications equipment provider will post earnings of $0.41 per share for the year, up from their prior estimate of $0.40. The consensus estimate for Telefonaktiebolaget LM Ericsson (publ)’s current full-year earnings is $0.38 per share. Zacks Research also issued estimates for Telefonaktiebolaget LM Ericsson (publ)’s Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.16 EPS and FY2024 earnings at $0.50 EPS.

A number of other brokerages have also commented on ERIC. StockNews.com began coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a research note on Thursday. They set a “hold” rating for the company. Raymond James lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Monday, January 23rd. DNB Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Thursday, March 30th. Finally, Cowen decreased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, January 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.95.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.4 %

Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.27 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 0.18. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.13 and a 12-month high of $8.34. The firm’s fifty day moving average is $5.49 and its 200 day moving average is $5.76. The company has a market capitalization of $17.55 billion, a PE ratio of 10.54 and a beta of 0.58.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SNC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 57.3% during the first quarter. BNP Paribas Arbitrage SNC now owns 24,898 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 9,067 shares during the last quarter. Earnest Partners LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the fourth quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock valued at $1,374,000 after purchasing an additional 21,523 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 33,376 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 150.0% during the fourth quarter. Russell Investments Group Ltd. now owns 804,882 shares of the communications equipment provider’s stock valued at $4,701,000 after purchasing an additional 482,897 shares during the last quarter. Finally, Henry James International Management Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 0.8% during the fourth quarter. Henry James International Management Inc. now owns 345,196 shares of the communications equipment provider’s stock valued at $2,016,000 after purchasing an additional 2,768 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offers hardware, software and related services for both radio access and transport.