Ericsson (NASDAQ:ERIC) Stock Price Target Cut by JPMorgan Chase & Co.

Ericsson (NASDAQ:ERIC) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $11.40 to $10.20 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.37% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Danske raised Ericsson from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley cut Ericsson from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $11.00 to $9.00 in a research report on Tuesday, September 22nd. Citigroup reiterated a “neutral” rating on shares of Ericsson in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered Ericsson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.60.

Ericsson Stock Up 0.4%

NASDAQ ERIC traded up $0.04 on Thursday, hitting $9.50. 9,351,930 shares of the stock were exchanged, compared to its average volume of 10,373,025. Ericsson has a fifty-two week low of $8.12 and a fifty-two week high of $13.77. The company has a 50-day moving average price of $9.95 and a 200-day moving average price of $11.02. The company has a quick ratio of 0.89, a current ratio of 1.12 and a debt-to-equity ratio of 0.21. The company has a market cap of $32.02 billion, a PE ratio of 12.18, a PEG ratio of 1.74 and a beta of 0.96.

Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.13 earnings per share for the quarter. The business had revenue of $5.43 billion for the quarter. Ericsson had a net margin of 10.72% and a return on equity of 20.63%. Sell-side analysts anticipate that Ericsson will post 0.61 EPS for the current fiscal year.

Institutional Trading of Ericsson

A number of hedge funds and other institutional investors have recently made changes to their positions in ERIC. Public Employees Retirement System of Ohio purchased a new position in shares of Ericsson in the second quarter valued at $15,812,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Ericsson in the 4th quarter worth about $429,000. Advisors Preferred LLC acquired a new stake in Ericsson in the 1st quarter valued at about $493,000. Finally, Bank of New York Mellon Corp grew its stake in Ericsson by 8.5% in the 1st quarter. Bank of New York Mellon Corp now owns 160,581 shares of the communications equipment provider’s stock valued at $1,810,000 after acquiring an additional 12,534 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Ericsson News Summary

Here are the key news stories impacting Ericsson this week:

• Positive Sentiment: 6G and AI positioning: Ericsson is competing with Nokia and Huawei to shape the architecture of 6G core networks, with artificial intelligence emerging as a key differentiator. Leadership in next-generation network standards could support long-term equipment demand and strengthen Ericsson’s strategic position. Ericsson and Nokia battle Huawei in 6G core clash over AI
• Positive Sentiment: India manufacturing expansion: Ericsson has begun exporting antennas made in India to Europe and other global markets. The move highlights India’s growing role in Ericsson’s supply chain, may improve manufacturing efficiency, and could create a platform for future 5G and 6G product growth. Several reports also describe the antennas as AI-ready and tied to Ericsson’s next-generation network strategy. Ericsson to export India-made antennas to Europe
• Neutral Sentiment: Earnings approaching: Ericsson is expected to announce quarterly results on Thursday. The report is the most immediate potential catalyst, as investors will look for evidence that profitability, revenue and telecom-equipment demand are improving. The company most recently reported quarterly revenue of $5.43 billion and EPS of $0.13. Ericsson expected to announce quarterly earnings
• Neutral Sentiment: Peer comparison: A new analysis compares Ericsson with Arista Networks, offering investors additional context on valuation, financial strength and growth prospects, but it does not represent a direct change to Ericsson’s outlook. Ericsson versus Arista Networks critical comparison

Ericsson Company Profile

Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish telecommunications and technology company that provides communications infrastructure, software, and related services to telecommunications operators and enterprises worldwide. The company was founded in 1876 by Lars Magnus Ericsson and is headquartered in Stockholm, Sweden.

Ericsson’s offerings include mobile network equipment and services for 4G and 5G networks, radio access systems, core networks, transport solutions, and network management software.