19-Apr-2024
Vonage, part of Ericsson and Singtel partner for digital transformation
Seeking Alpha News (Fri, 19-Apr 4:31 AM ET)
Vonage, part of Ericsson, and Singtel partner for digital transformation
Seeking Alpha News (Fri, 19-Apr 4:31 AM ET)
Vonage, part of Ericsson and Singtel for digital transformation
Seeking Alpha News (Fri, 19-Apr 4:31 AM ET)
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Benzinga (Tue, 16-Apr 10:15 AM ET)
Ericsson provides telecom equipment and services that are primarily used to build and facilitate mobile networks through operations in three segments: networks, cloud and software services, and enterprises. The firm's customers have historically been primarily wireless carriers, but the firm is making a push to cater more to other enterprises as well, both as they try to take advantage of 5G capabilities and on other "as-a-service" communications platforms. The company also licenses its patents to handset manufacturers so their devices are compatible with wireless networks.
Telefonaktiebolaget L M trades on the NASDAQ stock market under the symbol ERIC.
As of April 19, 2024, ERIC stock price climbed to $5.10 with 19,061,400 million shares trading.
ERIC has a beta of 0.93, meaning it tends to be less sensitive to market movements. ERIC has a correlation of 0.13 to the broad based SPY ETF.
ERIC has a market cap of $16.98 billion. This is considered a Large Cap stock.
Last quarter Telefonaktiebolaget L M reported $5 billion in Revenue and $.07 earnings per share. This fell short of revenue expectation by $-209 million and exceeded earnings estimates by $.02.
In the last 3 years, ERIC stock traded as high as $14.39 and as low as $4.33.
The top ETF exchange traded funds that ERIC belongs to (by Net Assets): FIVG, TDIV, AIQ, FTLS, AVDE.
ERIC has underperformed the market in the last year with a return of -1.1%, while the SPY ETF gained +21.2%. In the last 3 month period, ERIC fell short of the market, returning -11.2%, while SPY returned +3.0%. However, in the most recent 2 weeks ERIC has outperformed the stock market by returning +0.4%, while SPY returned -4.5%.
ERIC support price is $4.96 and resistance is $5.16 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ERIC stock will trade within this expected range on the day.