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

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

Several other equities research analysts have also recently commented on the company. TheStreet upgraded Telefonaktiebolaget LM Ericsson (publ) from a d+ rating to a c- rating in a research note on Tuesday, January 9th. UBS Group lowered Telefonaktiebolaget LM Ericsson (publ) from a neutral rating to a sell rating in a report on Wednesday, January 31st. Finally, Barclays lowered Telefonaktiebolaget LM Ericsson (publ) from an equal weight rating to an underweight rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) presently has an average rating of Hold and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.6 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.13 during trading on Wednesday, hitting $5.06. 29,648,432 shares of the company were exchanged, compared to its average volume of 17,703,852. The firm has a market capitalization of $16.85 billion, a P/E ratio of -7.23 and a beta of 0.76. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $6.36. The firm's fifty day moving average price is $5.37 and its 200 day moving average price is $5.34. 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 (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $6.76 billion for the quarter, compared to analysts' expectations of $7.04 billion. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current fiscal year.

Telefonaktiebolaget LM Ericsson (publ) Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, April 5th were given a dividend of $0.1293 per share. This is an increase from Telefonaktiebolaget LM Ericsson (publ)'s previous dividend of $0.08. The ex-dividend date of this dividend was Thursday, April 4th. Telefonaktiebolaget LM Ericsson (publ)'s dividend payout ratio is presently -24.29%.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently modified their holdings of ERIC. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 1st quarter valued at approximately $36,000. Planned Solutions Inc. bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $38,000. NBC Securities Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock worth $59,000 after purchasing an additional 7,744 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the 4th quarter worth approximately $64,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 31.2% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 13,457 shares of the communications equipment provider's stock valued at $65,000 after acquiring an additional 3,201 shares in the last quarter. 7.99% of the stock is currently owned by 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.