Telefonaktiebolaget L M Ericsson ADR [ERIC] moved down -0.56: Why It’s Important

Telefonaktiebolaget L M Ericsson ADR [NASDAQ: ERIC] closed the trading session at $5.32. The company report on February 16, 2024 at 3:16 AM that Ericsson to utilize mandate to transfer shares.

Ericsson’s (NASDAQ:ERIC) annual general meeting on March 29, 2023 authorized the company’s board of directors to resolve on the transfer of the company’s own shares. Under the authorization the company may, in conjunction with the delivery of vested shares under the long-term variable compensation programs 2019 and 2020 (“LTV 2019” and “LTV 2020”), prior to the annual general meeting in 2024, decide to retain and sell no more than 60% of the vested shares of series B in the company in order to cover for the costs for withholding and paying tax and social security liabilities on behalf of the participants in relation to the performance share awards for remittance to revenue authorities. Ericsson has today decided to utilize the authorization to transfer shares for these purposes.

The transfer of own shares may take place on Nasdaq Stockholm during the period from and including February 16, 2024 up to the annual general meeting 2024 at a price within the price interval registered from time to time.

The stocks have a year to date performance of -15.56 percent and weekly performance of -3.10 percent. The stock has been moved at 8.79 percent over the last six months. The stock has performed -13.36 percent around the most recent 30 days and changed 9.24 percent over the most recent 3-months.

If compared to the average trading volume of 14.97M shares, ERIC reached to a volume of 14224336 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Telefonaktiebolaget L M Ericsson ADR [ERIC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ERIC shares is $6.09 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 2.64. 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.

UBS have made an estimate for Telefonaktiebolaget L M Ericsson ADR shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 31, 2024.

The Average True Range (ATR) for Telefonaktiebolaget L M Ericsson ADR is set at 0.12, with the Price to Sales ratio for ERIC stock in the period of the last 12 months amounting to 0.66. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 1.45. Price to Free Cash Flow for ERIC in the course of the last twelve months was 45.05 with Quick ratio for the last quarter at 0.92.

ERIC stock trade performance evaluation

Telefonaktiebolaget L M Ericsson ADR [ERIC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.10. With this latest performance, ERIC shares dropped by -13.36% in over the last four-week period, additionally plugging by 8.79% over the last 6 months – not to mention a drop of -8.43% 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 38.27, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 41.00 for Telefonaktiebolaget L M Ericsson ADR [ERIC]. The present Moving Average for the last 50 days of trading for this stock 5.83, while it was recorded at 5.33 for the last single week of trading, and 5.22 for the last 200 days.

Telefonaktiebolaget L M Ericsson ADR [ERIC]: An insightful look at the core fundamentals

Telefonaktiebolaget L M Ericsson ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.92 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Telefonaktiebolaget L M Ericsson ADR [ERIC] stock

With the latest financial reports released by the company, Telefonaktiebolaget L M Ericsson ADR posted 0.09/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 80.00%. 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 L M Ericsson ADR go to 1.50%.

Telefonaktiebolaget L M Ericsson ADR [ERIC]: Institutional Ownership

The top three institutional holders of ERIC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ERIC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ERIC stock with ownership which is approximately 5.8325%.

Most Popular