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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. 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.

The communications equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $55.83 billion.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 27th were issued a $0.1315 dividend. The ex-dividend date was Thursday, March 27th. This is an increase 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%.

Wall Street Analysts Forecast Growth

ERIC has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a research report on Friday, April 11th. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently modified their holdings of ERIC. Minot DeBlois Advisors LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $35,000. GeoWealth Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $36,000. Smartleaf Asset Management LLC boosted its holdings 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 worth $40,000 after purchasing an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $77,000. Finally, Valeo Financial Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $81,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The company has a 50-day moving average of $7.89 and a two-hundred day moving average of $8.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. The stock 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.

About Telefonaktiebolaget LM Ericsson (publ)

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.