Ericsson (NASDAQ:ERIC - Get Free Report) released its quarterly earnings results on Tuesday. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02, reports. Ericsson had a return on equity of 21.17% and a net margin of 7.06%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $60.54 billion. During the same quarter last year, the business posted ($3.34) earnings per share. The company's revenue for the quarter was down 6.2% on a year-over-year basis.
Ericsson Trading Up 1.1%
Shares of NASDAQ ERIC traded up $0.08 during trading hours on Friday, hitting $7.46. The company's stock had a trading volume of 15,819,210 shares, compared to its average volume of 19,965,746. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.09. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 12.15 and a beta of 0.93. Ericsson has a 12 month low of $6.41 and a 12 month high of $9.00. The business has a 50-day simple moving average of $8.38 and a 200-day simple moving average of $8.13.
Institutional Trading of Ericsson
An institutional investor recently bought a new position in Ericsson stock. Dynamic Technology Lab Private Ltd acquired a new position in Ericsson (NASDAQ:ERIC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,214 shares of the communications equipment provider's stock, valued at approximately $126,000. Institutional investors own 7.99% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on ERIC shares. Wall Street Zen raised Ericsson from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on Ericsson from $8.90 to $9.80 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, Kepler Capital Markets raised Ericsson from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 16th.
Read Our Latest Analysis on ERIC
Ericsson Company Profile
(
Get Free Report)
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.
See Also
Before you consider Ericsson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ericsson wasn't on the list.
While Ericsson currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
