Telefonaktiebolaget L M Ericsson ADR (NASDAQ:ERIC) price on current trading day, fall -0.37% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.14.
A look at the stock’s price movement, the level at last check in today’s session was $8.17, moving within a range at $8.105 and $8.17. 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 -0.25% over the past month.
Telefonaktiebolaget L M Ericsson ADR’s market cap currently stands at around $25.00 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 3.17%. 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 72.69B 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 1.12% 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 247.84B, representing a -5.89% 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 Hold. On the other hand, the stock is on average a 50% 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 -0.88% and -1.38% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.22, while 7-day volatility ratio is 1.96% and 1.43% 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 0.14. 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 25.06% off recent price level in today’s trading while to achieve the yearly target high, it has to move 4.42%. Nonetheless, investors will most likely welcome a 14.74% 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 14.42 over the past 10 days and 16.60 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 10.03% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 31.5 million on 2024-11-29, giving us a short ratio of 1.66. The data shows that as of 2024-11-29 short interest in Telefonaktiebolaget L M Ericsson ADR (ERIC) stood at 102.99999 of shares outstanding, with shares short rising to 29.77 million registered in 2024-10-31. Current price change has pushed the stock 29.21% 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.
