Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Update

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 31,930,000 shares, an increase of 6.8% from the February 29th total of 29,900,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 15,930,000 shares, the short-interest ratio is currently 2.0 days.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.46 on Thursday. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $6.36. The firm has a 50 day moving average price of $5.49 and a 200 day moving average price of $5.34. The company has a market cap of $18.18 billion, a price-to-earnings ratio of -7.48 and a beta of 0.76. 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 earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.82% and a positive return on equity of 11.77%. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. Sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, April 5th were issued a $0.1293 dividend. This is an increase from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. The ex-dividend date was Thursday, April 4th. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is presently -21.92%.

Analysts Set New Price Targets

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

View Our Latest Stock Report on Telefonaktiebolaget LM Ericsson (publ)

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently bought and sold shares of ERIC. Hotchkis & Wiley Capital Management LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after buying an additional 4,351,420 shares during the period. FIL Ltd purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $6,930,000. Oppenheimer & Co. Inc. grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after buying an additional 819,083 shares during the period. Voloridge Investment Management LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 33.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,148,737 shares of the communications equipment provider’s stock worth $13,537,000 after buying an additional 540,022 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 412.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock worth $2,277,000 after buying an additional 290,949 shares during the period. 7.99% of the stock is currently 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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