Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up After Earnings Beat

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $7.45, but opened at $7.96. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $8.05, with a volume of 5,101,000 shares trading hands.

The communications equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were given a dividend of $0.1315 per share. The ex-dividend date was Thursday, March 27th. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is currently -1,800,000.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a “neutral” rating in a report on Friday, April 11th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $35,000. GeoWealth Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 2,840 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $77,000. Finally, Valeo Financial Advisors LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $81,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.6 %

The firm has a market capitalization of $26.46 billion, a PE ratio of -794,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. The firm has a 50 day simple moving average of $7.89 and a 200 day simple moving average of $8.03. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.