JPMorgan Chase & Co. Cuts Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Price Target to $5.58

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its target price trimmed by JPMorgan Chase & Co. from $5.81 to $5.58 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the communications equipment provider’s stock.

ERIC has been the topic of a number of other research reports. 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. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a neutral rating to a sell rating in a research note on Wednesday, January 31st. Finally, TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a d+ rating to a c- rating in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.10 on Wednesday. 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 has a 52 week low of $4.33 and a 52 week high of $6.36. The stock has a market capitalization of $16.98 billion, a P/E ratio of -7.29 and a beta of 0.76. The stock has a fifty day moving average of $5.36 and a 200-day moving average of $5.35.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.89% and a negative net margin of 9.75%. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. On average, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, April 5th were given a $0.1293 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. Telefonaktiebolaget LM Ericsson (publ)’s payout ratio is -24.29%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently made changes to their positions in the stock. Planned Solutions Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth $36,000. Lake Street Advisors Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $64,000. NBC Securities Inc. lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 7,744 shares during the period. Finally, 626 Financial LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter valued at $72,000. 7.99% of the stock is currently 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.