Equities research analysts expect that Ericsson (NASDAQ:ERIC) will report sales of $5.71 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ericsson’s earnings. The highest sales estimate is $5.79 billion and the lowest is $5.63 billion. Ericsson reported sales of $5.99 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.7%. The firm is scheduled to issue its next 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 fiscal year, with estimates ranging from $24.05 billion to $24.37 billion. For the next fiscal year, analysts anticipate that the business will report sales of $23.99 billion per share, with estimates ranging from $23.56 billion to $24.42 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Ericsson.

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

Several brokerages recently issued reports on ERIC. Zacks Investment Research upgraded shares of Ericsson from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Danske downgraded shares of Ericsson from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Canaccord Genuity restated a “hold” rating and set a $6.00 price objective on shares of Ericsson in a research report on Tuesday, July 18th. BidaskClub raised shares of Ericsson from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Ericsson in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.95.

Several large investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of Ericsson by 2.9% during the first quarter. Primecap Management Co. CA now owns 81,901,979 shares of the communications equipment provider’s stock worth $543,829,000 after acquiring an additional 2,290,675 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Ericsson by 9.1% during the first quarter. Brandes Investment Partners LP now owns 10,712,458 shares of the communications equipment provider’s stock worth $71,131,000 after acquiring an additional 894,358 shares in the last quarter. Folketrygdfondet increased its position in shares of Ericsson by 26.8% during the second quarter. Folketrygdfondet now owns 8,432,504 shares of the communications equipment provider’s stock worth $60,461,000 after acquiring an additional 1,780,000 shares in the last quarter. Credit Suisse AG increased its position in shares of Ericsson by 912.8% during the first quarter. Credit Suisse AG now owns 4,542,361 shares of the communications equipment provider’s stock worth $30,161,000 after acquiring an additional 4,093,879 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Ericsson by 1.8% during the second quarter. Parametric Portfolio Associates LLC now owns 3,167,532 shares of the communications equipment provider’s stock worth $22,711,000 after acquiring an additional 54,557 shares in the last quarter. 7.95% of the stock is owned by institutional investors.

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Shares of Ericsson (NASDAQ:ERIC) opened at 5.72 on Friday. The stock’s market cap is $18.74 billion. Ericsson has a 1-year low of $4.83 and a 1-year high of $7.47. The company’s 50-day moving average price is $6.07 and its 200 day moving average price is $6.57.

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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