StockNews.com Upgrades Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) to Strong-Buy

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Separately, JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a research note on Friday, April 11th.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 2.9 %

Shares of NASDAQ ERIC opened at $8.17 on Thursday. The stock has a market cap of $27.23 billion, a PE ratio of -817,000.00, a P/E/G ratio of 3.89 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.96 and a 12-month high of $8.90. The company has a 50-day moving average of $7.90 and a 200 day moving average of $8.03.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Tuesday, April 15th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. As a group, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.1315 per share. The ex-dividend date of this dividend was Thursday, March 27th. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.13. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is currently -1,800,000.10%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ERIC. Minot DeBlois Advisors LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $35,000. GeoWealth Management LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $36,000. Smartleaf Asset Management LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after buying 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 purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $81,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

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.