Telefonaktiebolaget LM Ericsson (publ) [NASDAQ: ERIC] gained 0.85% on the last trading session, reaching $7.13 price per share at the time. The company report on July 18, 2022 that Sunstone Hotel Investors Set to Join S&P SmallCap 600.
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Sunstone Hotel Investors Inc. (NYSE:SHO) will replace Vonage Holdings Corp. (NASD:VG) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, July 21. Telefonaktiebolaget LM Ericsson (OM:ERIC B/NASD: ERIC) is acquiring Vonage Holdings in a deal expected to be completed soon pending final closing conditions.
FollowingÂ is a summary of the change that will take place prior to the open of trading on the effective date:.
Telefonaktiebolaget LM Ericsson (publ) represents 3.33 billion in outstanding shares, while the company has a total market value of $23.29 billion with the latest information. ERIC stock price has been found in the range of $7.11 to $7.24.
If compared to the average trading volume of 7.90M shares, ERIC reached a trading volume of 8253695 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Telefonaktiebolaget LM Ericsson [publ] [ERIC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ERIC shares is $11.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ERIC stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Telefonaktiebolaget LM Ericsson (publ) shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 17, 2022. The new note on the price target was released on March 09, 2022, representing the official price target for Telefonaktiebolaget LM Ericsson (publ) stock.
The Average True Range (ATR) for Telefonaktiebolaget LM Ericsson (publ) is set at 0.25, with the Price to Sales ratio for ERIC stock in the period of the last 12 months amounting to 1.00. The Price to Book ratio for the last quarter was 1.94, with the Price to Cash per share for the same quarter was set at 2.82. Price to Free Cash Flow for ERIC in the course of the last twelve months was 9.88 with Quick ratio for the last quarter at 1.30.
Trading performance analysis for ERIC stock
Telefonaktiebolaget LM Ericsson (publ) [ERIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.19. With this latest performance, ERIC shares dropped by -5.56% in over the last four-week period, additionally sinking by -37.24% over the last 6 months – not to mention a drop of -39.68% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ERIC stock in for the last two-week period is set at 41.67, with the RSI for the last a single of trading hit 41.48, and the three-weeks RSI is set at 41.93 for Telefonaktiebolaget LM Ericsson (publ) [ERIC]. The present Moving Average for the last 50 days of trading for this stock 7.70, while it was recorded at 7.17 for the last single week of trading, and 9.72 for the last 200 days.
Telefonaktiebolaget LM Ericsson [publ] [ERIC]: A deeper dive into fundamental analysis
Telefonaktiebolaget LM Ericsson (publ)’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.
Telefonaktiebolaget LM Ericsson (publ) [ERIC]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ERIC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Telefonaktiebolaget LM Ericsson (publ) go to 9.23%.
An analysis of insider ownership at Telefonaktiebolaget LM Ericsson [publ] [ERIC]
There are presently around $1,930 million, or 8.90% of ERIC stock, in the hands of institutional investors. The top three institutional holders of ERIC stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 95,253,057, which is approximately -5.873% of the company’s market cap and around 0.90% of the total institutional ownership; HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC, holding 42,688,795 shares of the stock with an approximate value of $301.81 million in ERIC stocks shares; and SRB CORP, currently with $106.86 million in ERIC stock with ownership of nearly New of the company’s market capitalization.
Positions in Telefonaktiebolaget LM Ericsson (publ) stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 161 institutional holders increased their position in Telefonaktiebolaget LM Ericsson (publ) [NASDAQ:ERIC] by around 75,143,438 shares. Additionally, 186 investors decreased positions by around 59,105,347 shares, while 74 investors held positions by with 138,704,813 shares. The mentioned changes placed institutional holdings at 272,953,598 shares, according to the latest SEC report filing. ERIC stock had 63 new institutional investments in for a total of 29,493,105 shares, while 74 institutional investors sold positions of 13,814,864 shares during the same period.