Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) does about 10.90M shares in volume on a normal day but saw 6262414 shares change hands in Friday trading. The company now has a market cap of 40.21B USD and an enterprise value of about $39.30B. Its current market price is $11.71, marking a decrease of -1.18% compared to the previous close of $11.85. The 52 week high reached by this stock is $12.10 whilst the lowest price level in 52 weeks is $6.15. The script in recent trading has seen the stock touch a high of $11.81 and a low of $11.67.
Telefonaktiebolaget LM Ericsson (publ) (ERIC) has a 20-day trading average at $11.69 and the current price is -3.22% off the 52-week high compared with 90.41% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.78 and its 200-day simple moving average is $9.09. If we look at the stock’s price movements over the week, volatility stands at 1.46%, which increases to 1.55% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 58.10 to suggest the stock is neutral.
The consensus objective for the share price is $12.36, suggesting that the stock has a potential upside of 5.26% over the period. The median price target is 3.78% away from the current levels at $12.17.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 30, 2020 when Cowen upgraded the stock to “Outperform” and issued a price target of. Raymond James also upgraded the stock to “Outperform” from Mkt Perform on March 27, 2020 at a price target of $9.
The current price level is 0.20%, 9.14%, and 29.05% away from its SMA20, SMA50, and SMA200 respectively, with the ERIC price moving above the 50-day SMA on August 28. Telefonaktiebolaget LM Ericsson (publ) (ERIC) stock is up 2.72% over the week and 1.47% over the past month. Its price is 33.37% year-to-date and 49.55% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.09 above consensus estimates by $0.02. ERIC’s earnings per share are forecast to grow by 17.40% this year and 27.80% over next year. Expected sales for next quarter are $7.92 billion, which analysts say will come at $25.54 billion for the current fiscal year and next year at $27.32 billion. In addition, estimates put the company’s current quarterly revenue at an average of $6.42 billion.
Its 12-month price target is $12.17. To reach the target analysts have set, the stock logically needs to grow 5.26 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $9.36, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $13.98.
Outstanding shares total 3.32B with insiders holding 0.00% of the shares and institutional holders owning 9.99% of the company’s common stock. The company has a return on investment of 2.80% and return on equity of 3.50%. The price to earnings ratio (P/E ratio) amounts to 120.72 while the forward price to earnings ratio is 16.92. The beta has a value of 0.42. Price to book ratio is 4.29 and price to sales ratio is 1.53.
According to a U.S. Securities and Exchange Commission filing, Vanguard PRIMECAP Fund has added its position in Telefonaktiebolaget LM Ericsson (publ) (ERIC) to 70,676,226 shares, mirroring a recent increase by 0.01%. Vanguard PRIMECAP Fund added 5000.0 shares of Telefonaktiebolaget LM Ericsson (publ) common stock bringing its total worth to about $816.31 million at the end of recent close, SEC documents show. Vanguard PRIMECAP Fund isn’t the only investment manager who changed stakes and is followed by PRIMECAP Odyssey Stock Fund, which sold off -1.7 million shares to end up with 15,396,630 shares worth $177.83 million. Vanguard PRIMECAP Core Fund cut their holdings by -0.34% in the company over the course of the most recent quarter. It now holds a 0.39% position in Telefonaktiebolaget LM Ericsson (publ) thanks to 11.94 million shares amounting to $137.91 million.