Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Unusually-High Trading Volume

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw an uptick in trading volume on Wednesday . 14,722,645 shares were traded during 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ERIC. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of “Hold” and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.6 %

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 fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.89% and a negative net margin of 9.75%. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.41 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, April 5th were issued a dividend of $0.1293 per share. This is an increase 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 payout ratio is currently -24.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ERIC. First Affirmative Financial Network grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 2,268 shares in the last quarter. Aprio Wealth Management LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the first quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 2,609 shares in the last quarter. QRG Capital Management Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 2.6% in the fourth quarter. QRG Capital Management Inc. now owns 107,824 shares of the communications equipment provider’s stock valued at $679,000 after purchasing an additional 2,753 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third 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, Harbour Investments Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 25.6% in the fourth quarter. Harbour Investments Inc. now owns 17,673 shares of the communications equipment provider’s stock valued at $111,000 after purchasing an additional 3,606 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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.