Ericsson (ERIC) Set to Announce Earnings on Friday
Ericsson (NASDAQ:ERIC) will post its quarterly earnings results before the market opens on Friday, October 20th. Analysts expect Ericsson to post earnings of $0.03 per share for the quarter.
Ericsson (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The company had revenue of $49.90 billion during the quarter, compared to analysts’ expectations of $50.66 billion. Ericsson had a negative return on equity of 3.16% and a negative net margin of 6.40%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. On average, analysts expect Ericsson to post $-0.01 EPS for the current fiscal year and $0.29 EPS for the next fiscal year.
Ericsson (NASDAQ:ERIC) opened at 5.90 on Wednesday. Ericsson has a 12-month low of $4.83 and a 12-month high of $7.47.
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Several brokerages have recently issued reports on ERIC. Zacks Investment Research cut shares of Ericsson from a “hold” rating to a “strong sell” rating in a report on Friday, October 6th. Credit Suisse Group cut shares of Ericsson from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $4.65 in a report on Tuesday, October 3rd. Canaccord Genuity lowered their target price on shares of Ericsson from $6.00 to $5.25 and set a “hold” rating for the company in a report on Friday, September 22nd. BNP Paribas upgraded shares of Ericsson from a “neutral” rating to an “outperform” rating in a report on Thursday, September 21st. Finally, Danske cut shares of Ericsson from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Ericsson currently has an average rating of “Hold” and a consensus target price of $5.18.
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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