Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Strong Trading Volume

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 14,722,645 shares changed hands during mid-day trading, a decline of 15% from the previous session's volume of 17,337,471 shares.The stock last traded at $4.93 and had previously closed at $4.88.

Analyst Upgrades and Downgrades

ERIC has been the subject of several analyst reports. UBS Group cut Telefonaktiebolaget LM Ericsson (publ) from a "neutral" rating to a "sell" rating in a report on Wednesday, January 31st. Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an "equal weight" rating to an "underweight" rating in a research note on Friday, January 19th. Finally, TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a "d+" rating to a "c-" rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The firm has a market cap of $16.42 billion, a P/E ratio of -6.75 and a beta of 0.76. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $5.38 and a two-hundred day moving average of $5.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.33 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.77% and a negative net margin of 9.82%. On average, sell-side analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, April 5th were paid a $0.1293 dividend. This is a boost from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.08. The ex-dividend date of this dividend was Thursday, April 4th. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio is presently -23.29%.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors and hedge funds have recently made changes to their positions in ERIC. Planned Solutions Inc. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $38,000. NBC Securities Inc. boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock valued at $59,000 after purchasing an additional 7,744 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $64,000. Dorsey & Whitney Trust CO LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider's stock valued at $65,000 after purchasing an additional 3,201 shares in the last quarter. Finally, 626 Financial LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 7.99% of the company's stock.

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.