Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Declares Dividend of $0.13

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) announced a dividend on Tuesday, January 23rd, NASDAQ reports. Stockholders of record on Friday, April 5th will be given a dividend of 0.1293 per share by the communications equipment provider on Tuesday, April 2nd. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08.

Telefonaktiebolaget LM Ericsson (publ) has raised its dividend payment by an average of 16.6% per year over the last three years. Telefonaktiebolaget LM Ericsson (publ) has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Telefonaktiebolaget LM Ericsson (publ) to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 45.6%.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock opened at $5.35 on Wednesday. The business’s fifty day moving average is $5.50 and its 200-day moving average is $5.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 0.92. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.33 and a twelve month high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last released its earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.77% and a negative net margin of 9.82%. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $7.04 billion. During the same quarter in the prior year, the company earned $0.20 EPS. Research analysts predict that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ERIC. Jefferies Financial Group upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a report on Tuesday, January 9th. UBS Group lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) currently has an average rating of “Hold” and an average price target of $5.90.

View Our Latest Stock Analysis on Telefonaktiebolaget LM Ericsson (publ)

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 25.6% during 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 during the period. US Bancorp DE grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 14.2% during the fourth quarter. US Bancorp DE now owns 36,096 shares of the communications equipment provider’s stock valued at $227,000 after acquiring an additional 4,479 shares in the last quarter. BNP Paribas Arbitrage SNC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 57.3% during the first quarter. BNP Paribas Arbitrage SNC now owns 24,898 shares of the communications equipment provider’s stock valued at $146,000 after acquiring an additional 9,067 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 18.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 59,539 shares of the communications equipment provider’s stock valued at $375,000 after acquiring an additional 9,217 shares in the last quarter. Finally, Ethic Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 12.0% during the fourth quarter. Ethic Inc. now owns 118,255 shares of the communications equipment provider’s stock valued at $745,000 after acquiring an additional 12,704 shares in the last quarter. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

(Get Free Report)

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.

See Also

Dividend History for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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