Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target Cut to $5.58

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $5.81 to $5.58 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 10.28% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. 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. 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 2.6 %

ERIC opened at $5.06 on Wednesday. The company has a fifty day moving average price of $5.37 and a 200-day moving average price of $5.34. The firm has a market capitalization of $16.85 billion, a P/E ratio of -7.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 0.92. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $6.36.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $6.76 billion during the quarter, compared to analyst estimates of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.89%. During the same period in the previous year, the business earned $0.20 EPS. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Affirmative Financial Network raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 2,268 shares during the last quarter. Aprio Wealth Management LLC raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 17.5% during the first quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 2,609 shares during the last quarter. QRG Capital Management Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 2.6% in the fourth quarter. QRG Capital Management Inc. now owns 107,824 shares of the communications equipment provider’s stock worth $679,000 after buying an additional 2,753 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after buying an additional 3,201 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 25.6% in the fourth quarter. Harbour Investments Inc. now owns 17,673 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 3,606 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

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.