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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $5.81 to $5.58 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.18% from the stock’s current price.

A number of other equities analysts also recently weighed in on ERIC. Barclays downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. TheStreet raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research note on Tuesday, January 9th. Finally, UBS Group downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

NASDAQ:ERIC opened at $4.93 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. The company has a market cap of $16.42 billion, a P/E ratio of -7.04 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.33 and a fifty-two week high of $6.36. The firm’s 50 day moving average is $5.38 and its two-hundred day moving average is $5.34.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.20 earnings per share. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SNC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after purchasing an additional 32,373 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 202.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 49,881 shares of the communications equipment provider’s stock worth $291,000 after acquiring an additional 33,376 shares in the last quarter. Earnest Partners LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 10.1% during the 4th quarter. Earnest Partners LLC now owns 235,231 shares of the communications equipment provider’s stock worth $1,374,000 after acquiring an additional 21,523 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 31.2% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 3,201 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 22.0% during the 4th quarter. First Affirmative Financial Network now owns 24,086 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 4,351 shares in the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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.