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

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) 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 changing hands.

The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations 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 company also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 27th were given a dividend of $0.1315 per share. This is a positive change 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 payout ratio is -1,800,000.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ERIC shares. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective 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. Finally, Kepler Capital Markets raised shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently modified their holdings of ERIC. Minot DeBlois Advisors LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at $35,000. GeoWealth Management LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 2,840 shares during the period. SBI Securities Co. Ltd. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $77,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

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

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.