Ericsson (NASDAQ:ERIC) Declares Dividend of $0.15

Key Points

• Ericsson announced a dividend of $0.15 per share, set to be paid on September 26th to shareholders on record by September 29th.
• The company has a dividend payout ratio of 46.7%, indicating its dividends are well-covered by earnings, with an expected future payout ratio of 52.8%.
• Ericsson's stock is currently trading at $8.19, with a market cap of $27.42 billion and a PE ratio of 16.38.

Ericsson (NASDAQ:ERIC - Get Free Report) announced a dividend on Friday, January 24th, NASDAQ Dividends reports. Investors of record on Monday, September 29th will be paid a dividend of 0.1485 per share by the communications equipment provider on Friday, September 26th. The ex-dividend date of this dividend is Monday, September 29th.

Ericsson has a dividend payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ericsson to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 52.8%.

Ericsson Trading Up 0.7%

Shares of ERIC opened at $8.19 on Friday. Ericsson has a 12 month low of $6.64 and a 12 month high of $8.99. The stock's 50-day moving average is $7.75 and its two-hundred day moving average is $8.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.86. The stock has a market cap of $27.42 billion, a PE ratio of 16.38, a P/E/G ratio of 12.85 and a beta of 0.87.

Ericsson (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $60.54 billion. Ericsson had a return on equity of 21.17% and a net margin of 7.06%.The company's revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted ($3.34) EPS. Equities analysts forecast that Ericsson will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ericsson

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new position in Ericsson in the first quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new position in Ericsson during the 1st quarter worth approximately $31,000. Cromwell Holdings LLC grew its position in shares of Ericsson by 72.8% in the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider's stock worth $87,000 after acquiring an additional 4,330 shares in the last quarter. Wallace Advisory Group LLC bought a new stake in shares of Ericsson in the 1st quarter valued at approximately $90,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Ericsson by 692.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 12,456 shares of the communications equipment provider's stock valued at $97,000 after acquiring an additional 10,884 shares in the last quarter. Institutional investors own 7.99% of the company's stock.

Ericsson 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.

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