Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 1-Year Low at $6.40

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.40 and last traded at $6.46, with a volume of 116383 shares trading hands. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cheuvreux downgraded Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Kepler Capital Markets cut shares of Telefonaktiebolaget LM Ericsson (publ) to a “hold” rating in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 80 in a report on Friday, July 15th. UBS Group decreased their price objective on Telefonaktiebolaget LM Ericsson (publ) from SEK 85 to SEK 78 in a report on Friday, July 15th. Finally, Cowen cut their target price on Telefonaktiebolaget LM Ericsson (publ) from $15.00 to $11.00 in a report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 1.6 %

The firm’s 50-day moving average price is $7.29 and its 200 day moving average price is $7.90. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 8.09 and a beta of 0.41. The company has a current ratio of 1.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.21.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) last issued its earnings results on Thursday, July 14th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 22.68% and a net margin of 9.61%. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.37 billion. As a group, equities analysts expect that Telefonaktiebolaget LM Ericsson will post 0.62 EPS for the current year.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 30th will be paid a dividend of $0.076 per share. The ex-dividend date of this dividend is Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is currently 23.38%.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 612.9% in the 4th quarter. BNP Paribas Arbitrage SA now owns 110,606 shares of the communications equipment provider’s stock worth $1,202,000 after purchasing an additional 95,090 shares in the last quarter. George Kaiser Family Foundation increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 53.4% during the 2nd quarter. George Kaiser Family Foundation now owns 246,938 shares of the communications equipment provider’s stock valued at $1,827,000 after purchasing an additional 85,964 shares in the last quarter. Credit Suisse AG raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 398.4% during the second quarter. Credit Suisse AG now owns 3,668,232 shares of the communications equipment provider’s stock worth $27,146,000 after buying an additional 2,932,251 shares during the last quarter. Finally, AGF Investments Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the first quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock valued at $39,531,000 after buying an additional 2,297,972 shares in the last quarter. Institutional investors and hedge funds own 8.53% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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