Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $5.81 to $5.58 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.18% from the company’s current price.
A number of other brokerages also recently issued reports on ERIC. TheStreet raised Telefonaktiebolaget LM Ericsson (publ) from a “d+” rating to a “c-” rating in a research report on Tuesday, January 9th. UBS Group lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “neutral” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Barclays lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.58.
Get Our Latest Stock Analysis on ERIC
Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.0 %
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC – Get Free Report) last issued its quarterly earnings data on Monday, January 22nd. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $6.76 billion during 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 in the previous year, the firm posted $0.20 earnings per share. Sell-side analysts expect that Telefonaktiebolaget LM Ericsson will post 0.42 earnings per share for the current year.
Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)
Hedge funds have recently bought and sold shares of the business. Planned Solutions Inc. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $38,000. Lake Street Advisors Group LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $64,000. NBC Securities Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 7,744 shares during the last quarter. 626 Financial LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter valued at about $72,000. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in 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 during the last quarter. Institutional investors and hedge funds 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.
Further Reading
- Five stocks we like better than Telefonaktiebolaget LM Ericsson (publ)
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Here are the Pros and Cons of Using Options Put Credit Spreads
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Can Netflix Stock Continue Into All-Time Highs After Earnings?
- 10 Best Airline Stocks to Buy
- Planet Labs Soars Fueled by AI Data Demand
Receive News & Ratings for Telefonaktiebolaget LM Ericsson (publ) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonaktiebolaget LM Ericsson (publ) and related companies with MarketBeat.com's FREE daily email newsletter.