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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price objective reduced by JPMorgan Chase & Co. from $5.81 to $5.58 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

Other equities analysts have also recently issued research reports about the stock. UBS Group cut shares of Telefonaktiebolaget LM Ericsson (publ) from a neutral rating to a sell rating in a research note on Wednesday, January 31st. Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an equal weight rating to an underweight rating in a report on Friday, January 19th. Finally, TheStreet raised shares of 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Telefonaktiebolaget LM Ericsson (publ) has a consensus rating of Hold and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock opened at $5.10 on Wednesday. The firm has a market capitalization of $16.98 billion, a P/E ratio of -7.29 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $6.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 0.92. The business has a fifty day moving average price of $5.36 and a 200-day moving average price 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. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $7.04 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.89% and a negative net margin of 9.75%. During the same quarter last year, the company earned $0.20 EPS. As a group, equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 EPS 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 paid 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 dividend payout ratio (DPR) is currently -24.29%.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of ERIC. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock worth $921,604,000 after acquiring an additional 4,351,420 shares during the last quarter. Voloridge Investment Management LLC raised its position 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 valued at $13,537,000 after purchasing an additional 540,022 shares in the last quarter. Northern Trust Corp raised its position in Telefonaktiebolaget LM Ericsson (publ) by 7.3% during the fourth quarter. Northern Trust Corp now owns 1,309,599 shares of the communications equipment provider’s stock valued at $8,250,000 after purchasing an additional 89,443 shares in the last quarter. FIL Ltd bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $6,930,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after purchasing an additional 819,083 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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.