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Ericsson (ERIC) Dips More Than Broader Markets: What You Should Know
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Ericsson (ERIC - Free Report) closed the most recent trading day at $9.88, moving -0.9% from the previous trading session. This change lagged the S&P 500's 0.17% loss on the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.32%.
Coming into today, shares of the telecommunications equipment provider had gained 2.57% in the past month. In that same time, the Computer and Technology sector gained 2.43%, while the S&P 500 gained 3.07%.
Investors will be hoping for strength from ERIC as it approaches its next earnings release, which is expected to be July 17, 2019. On that day, ERIC is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 900%. Our most recent consensus estimate is calling for quarterly revenue of $5.75 billion, down 0.08% from the year-ago period.
ERIC's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $23.63 billion. These results would represent year-over-year changes of +1166.67% and -3.85%, respectively.
It is also important to note the recent changes to analyst estimates for ERIC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ERIC currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ERIC is currently trading at a Forward P/E ratio of 26.07. For comparison, its industry has an average Forward P/E of 25.14, which means ERIC is trading at a premium to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ericsson (ERIC) Dips More Than Broader Markets: What You Should Know
Ericsson (ERIC - Free Report) closed the most recent trading day at $9.88, moving -0.9% from the previous trading session. This change lagged the S&P 500's 0.17% loss on the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.32%.
Coming into today, shares of the telecommunications equipment provider had gained 2.57% in the past month. In that same time, the Computer and Technology sector gained 2.43%, while the S&P 500 gained 3.07%.
Investors will be hoping for strength from ERIC as it approaches its next earnings release, which is expected to be July 17, 2019. On that day, ERIC is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 900%. Our most recent consensus estimate is calling for quarterly revenue of $5.75 billion, down 0.08% from the year-ago period.
ERIC's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $23.63 billion. These results would represent year-over-year changes of +1166.67% and -3.85%, respectively.
It is also important to note the recent changes to analyst estimates for ERIC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ERIC currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ERIC is currently trading at a Forward P/E ratio of 26.07. For comparison, its industry has an average Forward P/E of 25.14, which means ERIC is trading at a premium to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.