Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was the recipient of a significant drop in short interest in the month of September. As of September 28th, there was short interest totalling 14,295,255 shares, a drop of 12.7% from the September 14th total of 16,382,440 shares. Based on an average daily volume of 2,990,215 shares, the short-interest ratio is presently 4.8 days.
NASDAQ ERIC opened at $8.23 on Friday. The company has a market cap of $29.34 billion, a PE ratio of -17.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.50 and a quick ratio of 1.22. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.84 and a 1-year high of $9.11.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Wednesday, July 18th. The communications equipment provider reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). The firm had revenue of $49.80 billion for the quarter, compared to analyst estimates of $48.09 billion. Telefonaktiebolaget LM Ericsson had a negative return on equity of 5.62% and a negative net margin of 13.14%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.19 earnings per share for the current year.
A number of research analysts have commented on ERIC shares. Zacks Investment Research cut shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. BidaskClub upgraded shares of Telefonaktiebolaget LM Ericsson from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Raymond James cut shares of Telefonaktiebolaget LM Ericsson from a “market perform” rating to an “underperform” rating in a research note on Friday, July 20th. ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, Bank of America upgraded shares of Telefonaktiebolaget LM Ericsson from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Telefonaktiebolaget LM Ericsson has a consensus rating of “Hold” and a consensus price target of $8.08.
About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
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