Hotchkis & Wiley Capital Manageme.. recently announced the acquisition of new stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC). The institutional investor has increased its shareholding in the Technology company by 0.91% to 29.03 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 0.95% valued currently at $335.34 million. In addition, Folketrygdfondet raised its holdings by 1.12 million to 7.83 million shares. And Fidelity Management & Research Co.. has lifted its position by 26.81% or 1.48 million shares – to 7.01 million shares.
With over 6.94 million Telefonaktiebolaget LM Ericsson (publ) (ERIC) shares trading Monday and a closing price of $11.65 on the day, the dollar volume was approximately $80.86 million. The shares have shown a positive weekly performance of 0.78% and its price on 08/31/20 lost nearly -0.51%. Currently, there are 3.32B common shares owned by the public and among those 3.25B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for ERIC have a consensus price objective of $11.97. The analysts have set the share’s price value over the next 12 months at a high of $13.98 and a low of $9.36 should the stock experience a downside. Incidentally, analysts’ outlook for the Telefonaktiebolaget LM Ericsson (publ) stock is 1.90 for the next 12 months. The average price target is 5.74% above its last price level and an upside to the estimated low will see the stock lose -24.47% over that period. But an upside of 16.67% will see the stock hit the forecast high price target while mean target price for the stock is $12.17.
The top 3 mutual fund holders in Telefonaktiebolaget LM Ericsson (publ) are Vanguard PRIMECAP Fund, PRIMECAP Odyssey Stock Fund, and Vanguard PRIMECAP Core Fund. Vanguard PRIMECAP Fund owns 70.68 million shares of the company’s stock, all valued at over $816.31 million. The company bought an additional 5000.0 shares recently to bring their total holdings to about 2.30% of the shares outstanding. PRIMECAP Odyssey Stock Fund sold -1.7 million shares to see its total holdings shrink to 15.4 million shares valued at over $177.83 million and representing 0.50% of the shares outstanding. Vanguard PRIMECAP Core Fund sold 41300.0 shares to bring its total holdings to over 11.94 million shares at a value of $137.91 million. Vanguard PRIMECAP Core Fund now owns shares totaling to 0.39% of the shares outstanding.
Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) opened at $11.74, up $0.03 from a prior closing price of $11.71. However, the script later closed the day at $11.65, down -0.51%. The company’s stock has a 5-day price change of 0.78% and 22.12% over the past three months. ERIC shares are trading 32.69% year to date (YTD), with the 12-month market performance up to 48.60% higher. It has a 12-month low price of $6.15 and touched a high of $12.10 over the same period. Currently, 6.94 million shares have been traded, compared to an average intraday trading volume of 10.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.38%, 8.07%, and 28.20% respectively.
Institutional ownership of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) shares accounts for 9.60% of the company’s 3.32B shares outstanding. Mutual fund holders own 4.13%, while other institutional holders and individual stakeholders account for 4.93% and — respectively.
It has a market capitalization of $40.00B and a beta (3y monthly) value of 0.42. The stock’s trailing 12-month PE ratio is 120.10, while the earnings-per-share (ttm) stands at $0.10. The company has a PEG of 4.57 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.55% over the week and 1.52% over the month.
Analysts forecast that Telefonaktiebolaget LM Ericsson (publ) (ERIC) will achieve an EPS of $0.16 for the current quarter, $0.21 for the next quarter and $0.69 for 2021. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 133.90%, and 28.39% over the next financial year. EPS should grow at an annualized rate of 26.30% over the next five years, compared to -28.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Telefonaktiebolaget LM Ericsson (publ) (ERIC) as a “Strong Buy” at a consensus score of 1.90. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 11 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ERIC, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on March 30, 2020, with the firm’s price target at. Raymond James coverage for the Telefonaktiebolaget LM Ericsson (publ) (ERIC) stock in a research note released on March 27, 2020 offered a Outperform rating with a price target of $9. Kepler was of a view on January 27, 2020 that the stock is Buy, while Barclays gave the stock Overweight rating on January 16, 2020, issuing a price target of. Citigroup on their part issued Buy rating on January 13, 2020.