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Ericsson (ERIC) Gains As Market Dips: What You Should Know
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Ericsson (ERIC - Free Report) closed at $8.88 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily loss of 0.15%. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Heading into today, shares of the telecommunications equipment provider had lost 1.47% over the past month, lagging the Computer and Technology sector's gain of 5.57% and the S&P 500's gain of 6.55% in that time.
ERIC will be looking to display strength as it nears its next earnings release, which is expected to be April 19, 2019. On that day, ERIC is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 400%. Our most recent consensus estimate is calling for quarterly revenue of $5.26 billion, down 1.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $23.40 billion, which would represent changes of +1266.67% and -4.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ERIC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ERIC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ERIC is holding a Forward P/E ratio of 21.19. This represents a premium compared to its industry's average Forward P/E of 18.16.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ericsson (ERIC) Gains As Market Dips: What You Should Know
Ericsson (ERIC - Free Report) closed at $8.88 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily loss of 0.15%. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Heading into today, shares of the telecommunications equipment provider had lost 1.47% over the past month, lagging the Computer and Technology sector's gain of 5.57% and the S&P 500's gain of 6.55% in that time.
ERIC will be looking to display strength as it nears its next earnings release, which is expected to be April 19, 2019. On that day, ERIC is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 400%. Our most recent consensus estimate is calling for quarterly revenue of $5.26 billion, down 1.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $23.40 billion, which would represent changes of +1266.67% and -4.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ERIC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ERIC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ERIC is holding a Forward P/E ratio of 21.19. This represents a premium compared to its industry's average Forward P/E of 18.16.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.