$0.03 Earnings Per Share Expected for Ericsson (ERIC) This Quarter
Analysts expect Ericsson (NASDAQ:ERIC) to announce earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ericsson’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.05. Ericsson posted earnings of $0.04 per share in the same quarter last year, which would suggest a negative year over year growth rate of 25%. The firm is expected to report its next earnings report before the market opens on Friday, October 20th.
On average, analysts expect that Ericsson will report full-year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from ($0.18) to $0.22. For the next financial year, analysts expect that the firm will post earnings of $0.34 per share, with EPS estimates ranging from $0.30 to $0.38. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Ericsson.
Ericsson (NASDAQ:ERIC) last posted its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $50.66 billion. During the same quarter last year, the company posted $0.83 EPS. Ericsson’s revenue for the quarter was down 7.8% on a year-over-year basis.
Several brokerages recently issued reports on ERIC. BidaskClub downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Ericsson in a report on Saturday, August 26th. Danske downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Canaccord Genuity reissued a “hold” rating and set a $6.00 price target on shares of Ericsson in a report on Tuesday, July 18th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Ericsson in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.95.
Institutional investors and hedge funds have recently bought and sold shares of the business. OLD National Bancorp IN increased its position in Ericsson by 8.1% in the 1st quarter. OLD National Bancorp IN now owns 15,786 shares of the communications equipment provider’s stock valued at $105,000 after acquiring an additional 1,181 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Ericsson in the 1st quarter valued at about $106,000. Mackenzie Financial Corp acquired a new stake in Ericsson in the 1st quarter valued at about $109,000. GenTrust LLC acquired a new stake in Ericsson in the 2nd quarter valued at about $120,000. Finally, Quantum Capital Management acquired a new stake in Ericsson in the 1st quarter valued at about $112,000. Hedge funds and other institutional investors own 7.95% of the company’s stock.
Ericsson (NASDAQ ERIC) traded down 1.29% on Friday, reaching $5.72. 1,386,377 shares of the company’s stock traded hands. Ericsson has a 52-week low of $4.83 and a 52-week high of $7.47. The firm’s 50-day moving average is $6.08 and its 200 day moving average is $6.58. The stock’s market capitalization is $18.74 billion.
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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