Ericsson (ERIC) Set to Announce Earnings on Friday
Ericsson (NASDAQ:ERIC) is set to release its earnings data before the market opens on Friday, October 20th. Analysts expect Ericsson to post earnings of $0.03 per share for the quarter.
Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ 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 business 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 earned $0.83 EPS. Ericsson’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, analysts expect Ericsson to post $0.07 EPS for the current fiscal year and $0.25 EPS for the next fiscal year.
Ericsson (NASDAQ ERIC) opened at 5.75 on Friday. The company’s market cap is $18.84 billion. The stock has a 50 day moving average of $5.76 and a 200 day moving average of $6.44. Ericsson has a 52 week low of $4.83 and a 52 week high of $7.47.
A number of research firms recently commented on ERIC. Zacks Investment Research raised Ericsson from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub raised Ericsson from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. J P Morgan Chase & Co reaffirmed a “hold” rating on shares of Ericsson in a report on Tuesday, July 18th. Canaccord Genuity reaffirmed a “hold” rating and set a $6.00 target price on shares of Ericsson in a report on Tuesday, July 18th. Finally, Danske downgraded Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.54.
Ericsson Company Profile
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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