Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up Following Better-Than-Expected Earnings

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report)'s stock price gapped up prior to trading 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 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 analyst estimates of $55.83 billion. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were given a dividend of $0.1315 per share. This is an increase from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.13. The ex-dividend date of this dividend was Thursday, March 27th. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio (DPR) is presently -1,800,000.10%.

Analysts Set New Price Targets

ERIC has been the subject of a number of recent research reports. Kepler Capital Markets raised Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a research note on Wednesday. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the company a "neutral" rating in a research note on Friday, April 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ERIC. Minot DeBlois Advisors LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $35,000. GeoWealth Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 2,840 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at approximately $77,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $81,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The company's 50-day simple moving average is $7.91 and its 200 day simple moving average is $8.04. The company has a market cap of $27.23 billion, a PE ratio of -817,000.00, a PEG ratio of 3.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17.

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.