Ericsson to Post Q3 2016 Earnings of $0.03 Per Share, Credit Agricole SA Forecasts (ERIC)
Ericsson (NASDAQ:ERIC) – Equities researchers at Credit Agricole SA dropped their Q3 2016 earnings estimates for Ericsson in a research note issued on Thursday. Credit Agricole SA analyst A. Silver now expects that the firm will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.11. Credit Agricole SA also issued estimates for Ericsson’s FY2016 earnings at $0.34 EPS, FY2017 earnings at $0.37 EPS and FY2018 earnings at $0.41 EPS.
ERIC has been the subject of several other research reports. Charter Equity lowered shares of Ericsson from a “market perform” rating to an “underperform” rating in a report on Wednesday, July 20th. Argus reaffirmed a “hold” rating on shares of Ericsson in a report on Thursday. Morgan Stanley reaffirmed a “neutral” rating on shares of Ericsson in a report on Friday, August 12th. Barclays PLC raised shares of Ericsson from an “underweight” rating to an “equal weight” rating in a report on Wednesday, July 6th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Ericsson in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.21.
Shares of Ericsson (NASDAQ:ERIC) opened at 5.43 on Monday. The firm’s 50-day moving average is $6.87 and its 200 day moving average is $7.69. The firm has a market capitalization of $17.71 billion, a P/E ratio of 11.27 and a beta of 0.92. Ericsson has a 52 week low of $5.35 and a 52 week high of $10.56.
Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%.
Institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA boosted its position in shares of Ericsson by 4.1% in the second quarter. Primecap Management Co. CA now owns 81,505,704 shares of the company’s stock worth $625,964,000 after buying an additional 3,247,500 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock worth $314,724,000 after buying an additional 12,562,156 shares in the last quarter. Cambiar Investors LLC boosted its position in shares of Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock worth $138,429,000 after buying an additional 1,746,391 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock worth $79,327,000 after buying an additional 2,541,781 shares in the last quarter. Finally, Dodge & Cox boosted its position in shares of Ericsson by 3.3% in the second quarter. Dodge & Cox now owns 2,216,336 shares of the company’s stock worth $17,021,000 after buying an additional 70,150 shares in the last quarter. 7.29% of the stock is currently owned by institutional investors.
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.
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