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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) shares saw unusually-strong 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 Ratings Changes

A number of research analysts have issued reports on ERIC shares. UBS Group downgraded Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report 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. Finally, Barclays downgraded Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $5.39 and a 200-day simple moving average of $5.35.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.77% and a negative net margin of 9.82%. During the same period in the prior year, the business posted $0.20 EPS. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current fiscal 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. The ex-dividend date was Thursday, April 4th. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio is currently -23.29%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently modified their holdings of ERIC. Gateway Investment Advisers LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 46,340 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 32,117 shares in the last quarter. First Affirmative Financial Network raised its position in Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st 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 raised its position in Telefonaktiebolaget LM Ericsson (publ) by 17.5% in the 1st 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. NBC Securities Inc. raised its position in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in 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. Finally, Nomura Holdings Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $384,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

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.