Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up – Time to Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) gapped up prior to trading on Tuesday . The stock had previously closed at $7.45, but opened at $7.96. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $8.05, with a volume of 5,101,000 shares changing hands.

Wall Street Analysts Forecast Growth

ERIC has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a “neutral” rating in a report on Friday. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

The stock has a fifty day simple moving average of $7.87 and a two-hundred day simple moving average of $8.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The stock has a market capitalization of $26.81 billion, a price-to-earnings ratio of -807,500.00, a P/E/G ratio of 3.89 and a beta of 0.92.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its earnings results on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 27th were given 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 payout ratio is presently -1,800,000.10%.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of large investors have recently bought and sold shares of the stock. Minot DeBlois Advisors LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at about $35,000. GeoWealth Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth approximately $36,000. Smartleaf Asset Management LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 2,840 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at approximately $81,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.

About Telefonaktiebolaget LM Ericsson (publ)

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.