Ericsson (ERIC) is telecommunications equipment and services provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ERIC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ericsson could be a solid choice for investors.
Current Quarter Estimates for ERIC
In the past 30 days, 3 estimates have gone higher for Ericsson while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 15 cents a share 30 days ago, to 18 cents today, a move of 20%.
Current Year Estimates for ERIC
Meanwhile, Ericsson’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 66 cents per share 30 days ago to 73 cents per share today, an increase of 10.6%.
The stock has also started to move higher lately, adding 5.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
ERICSSON ADS (ERIC): Free Stock Analysis Report
Zacks Investment Research