Analysts expect that Ericsson (NASDAQ:ERIC) will post sales of $5.71 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ericsson’s earnings, with estimates ranging from $5.63 billion to $5.79 billion. Ericsson reported sales of $5.99 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Friday, October 20th.

On average, analysts expect that Ericsson will report full-year sales of $5.71 billion for the current year, with estimates ranging from $24.05 billion to $24.37 billion. For the next fiscal year, analysts forecast that the company will post sales of $23.99 billion per share, with estimates ranging from $23.56 billion to $24.42 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ericsson.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The firm had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. Ericsson’s revenue for the quarter was down 7.8% compared to the same quarter last year.

Several brokerages recently issued reports on ERIC. BidaskClub raised shares of Ericsson from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Citigroup Inc. began coverage on shares of Ericsson in a research note on Thursday, June 8th. They set a “buy” rating on the stock. Danske downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. J P Morgan Chase & Co reissued a “neutral” rating on shares of Ericsson in a research note on Saturday, August 26th. Finally, ValuEngine raised shares of Ericsson from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.95.

Ericsson (NASDAQ:ERIC) traded up 1.134% during trading on Thursday, hitting $5.795. The stock had a trading volume of 1,817,540 shares. The firm’s market cap is $18.98 billion. Ericsson has a 52-week low of $4.83 and a 52-week high of $7.47. The company has a 50-day moving average of $6.09 and a 200 day moving average of $6.58.

A number of hedge funds have recently modified their holdings of ERIC. OLD National Bancorp IN increased its position in Ericsson by 8.1% during the first quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 1,181 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Ericsson during the first quarter worth approximately $106,000. Mackenzie Financial Corp acquired a new position in Ericsson during the first quarter worth approximately $109,000. Quantum Capital Management acquired a new position in Ericsson during the first quarter worth approximately $112,000. Finally, GenTrust LLC acquired a new position in Ericsson during the second quarter worth approximately $120,000. 7.95% of the stock is owned by hedge funds and other institutional investors.

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About Ericsson

Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.

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Earnings History and Estimates for Ericsson (NASDAQ:ERIC)

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