Q2 2024 EPS Estimates for Telefonaktiebolaget LM Ericsson (publ) Reduced by Zacks Research (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) – Equities researchers at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for shares of Telefonaktiebolaget LM Ericsson (publ) in a report released on Tuesday, May 7th. Zacks Research analyst R. Department now anticipates that the communications equipment provider will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.06. The consensus estimate for Telefonaktiebolaget LM Ericsson (publ)’s current full-year earnings is $0.39 per share. Zacks Research also issued estimates for Telefonaktiebolaget LM Ericsson (publ)’s FY2024 earnings at $0.37 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.48 EPS, Q1 2026 earnings at $0.09 EPS and FY2026 earnings at $0.57 EPS.

A number of other brokerages have also recently issued reports on ERIC. UBS Group cut Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Barclays cut Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Shares of NASDAQ:ERIC opened at $5.26 on Thursday. The firm has a market capitalization of $17.52 billion, a PE ratio of -7.51 and a beta of 0.76. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $5.32 and a two-hundred day moving average price of $5.40. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently added to or reduced their stakes in ERIC. Sequoia Financial Advisors LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after acquiring an additional 290,949 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock valued at $65,000 after purchasing an additional 3,201 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 186.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 47,858 shares of the communications equipment provider’s stock valued at $302,000 after purchasing an additional 31,135 shares during the period. International Assets Investment Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $103,000. Finally, Planned Solutions Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $38,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.