Zacks Research Weighs in on Telefonaktiebolaget LM Ericsson (publ)’s Q2 2024 Earnings (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) – Investment analysts at Zacks Research decreased their Q2 2024 earnings per share estimates for Telefonaktiebolaget LM Ericsson (publ) in a research report issued on Tuesday, May 7th. Zacks Research analyst R. Department now expects that the communications equipment provider will post earnings per share of $0.04 for the quarter, down from their prior 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.

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

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock opened at $5.26 on Thursday. The company has a market capitalization of $17.52 billion, a P/E 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 simple moving average of $5.32 and a 200 day simple moving average of $5.40. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $6.36.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors and hedge funds have recently made changes to their positions in ERIC. Planned Solutions Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at approximately $36,000. Lake Street Advisors Group LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $64,000. NBC Securities Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares during the last quarter. Finally, 626 Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $72,000. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.