JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Stock

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) had its price objective upped by research analysts at JPMorgan Chase & Co. from $8.90 to $9.80 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 37.35% from the stock’s previous close.

Separately, StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a report on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.4 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.03 during mid-day trading on Friday, hitting $7.14. 14,467,890 shares of the stock were exchanged, compared to its average volume of 17,887,730. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of -711,500.00, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $7.88 and a 200 day simple moving average of $8.03.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth approximately $35,000. GeoWealth Management LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth $36,000. Smartleaf Asset Management LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 131.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,993 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 2,840 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter valued at about $77,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $81,000. 7.99% of the stock is owned by institutional investors and hedge funds.

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.