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

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

Several other analysts also recently commented on the stock. Barclays downgraded 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 downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a neutral rating to a sell rating in a research note on Wednesday, January 31st. Finally, TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a d+ rating to a c- rating in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock opened at $4.93 on Wednesday. The stock’s 50-day moving average is $5.38 and its two-hundred day moving average is $5.34. 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 1 year low of $4.33 and a 1 year high of $6.36. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of -7.04 and a beta of 0.76.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter last year, the business posted $0.20 EPS. Analysts predict that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, April 5th were paid a $0.1293 dividend. The ex-dividend date was Thursday, April 4th. This is a boost from Telefonaktiebolaget LM Ericsson (publ)’s previous dividend of $0.08. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is -24.29%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Planned Solutions Inc. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at approximately $38,000. NBC Securities Inc. boosted its stake in shares of 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 in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth $64,000. Dorsey & Whitney Trust CO LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 31.2% during 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, 626 Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $72,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

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.