Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) price on current trading day, rose 2.05% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $8.45.
A look at the stock’s price movement, the close in the last trading session was $8.28, moving within a range at $8.36 and $8.47. The beta value (5-Year monthly) was 0.315. Turning to its 52-week performance, $8.62 and $4.77 were the 52-week high and 52-week low respectively. Overall, ERIC moved 1.20% over the past month.
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Telefonaktiebolaget L M Ericsson ADR’s market cap currently stands at around $25.95 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.26, with its dividend yield at 3.05%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 72.5B for the company’s revenue for the quarter, with a low and high estimate of 69.49B and 75.85B respectively. The average forecast suggests up to a 0.86% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 247.6B, representing a -5.98% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ERIC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 7 analyst(s) rate the stock as a Hold, 2 recommend ERIC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ERIC’s current price about 3.66% and 4.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 62.12, while 7-day volatility ratio is 1.25% and 1.55% in the 30-day chart. Further, Telefonaktiebolaget L M Ericsson ADR (ERIC) has a beta value of 0.81, and an average true range (ATR) of 0.15. Analysts have given the company’s stock an average 52-week price target of $6.9399999999999995, forecast between a low of $6.1 and high of $7.78. Looking at the price targets, the low is 27.81% off current price level while to achieve the yearly target high, price needs to move 7.93%. Nonetheless, investors will most likely welcome a 17.87% jump to $6.9399999999999995 which is the analysts’ median price.
If we refocus on Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC), historical trading data shows that trading volumes averaged 16.16 over the past 10 days and 16.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 3.07 billion shares.
The 0.16% of Telefonaktiebolaget L M Ericsson ADR’s shares are in the hands of company insiders while institutional holders own 10.13% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 31.35 million on 2024-11-15, giving us a short ratio of 1.64. The data shows that as of 2024-11-15 short interest in Telefonaktiebolaget L M Ericsson ADR (ERIC) stood at 101.99999 of shares outstanding, with shares short rising to 26.7 million registered in 2024-10-15. Current price change has pushed the stock 34.13% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ERIC stock continues to rise going into the next quarter.
