Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Raises Dividend to $0.13 Per Share

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) declared a dividend on Tuesday, January 23rd, NASDAQ reports. Investors of record on Friday, April 5th will be paid a dividend of 0.1293 per share by the communications equipment provider on Monday, April 1st. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change 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% annually over the last three years. Telefonaktiebolaget LM Ericsson (publ) has a dividend payout ratio of 48.1% indicating that 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) Trading Down 0.2 %

NASDAQ:ERIC opened at $5.50 on Tuesday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of -7.53 and a beta of 0.76. The business has a fifty day moving average of $5.50 and a 200-day moving average of $5.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.20.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) last released its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company 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 business posted $0.20 earnings per share. Equities analysts predict that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on ERIC

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth about $103,000. Harbour Investments Inc. boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 25.6% during the 4th quarter. Harbour Investments Inc. now owns 17,673 shares of the communications equipment provider’s stock worth $111,000 after acquiring an additional 3,606 shares during the period. BNP Paribas Arbitrage SNC boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 57.3% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 24,898 shares of the communications equipment provider’s stock worth $146,000 after acquiring an additional 9,067 shares during the period. US Bancorp DE boosted its position in Telefonaktiebolaget LM Ericsson (publ) by 14.2% during the 4th quarter. US Bancorp DE now owns 36,096 shares of the communications equipment provider’s stock worth $227,000 after acquiring an additional 4,479 shares during the period. Finally, Pathstone Holdings LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth about $284,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

About Telefonaktiebolaget LM Ericsson (publ)

(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.

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

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