Northland Securities Reaffirms “Outperform” Rating for Nokia Oyj (NYSE:NOK)

Northland Securities restated their outperform rating on shares of Nokia Oyj (NYSE:NOK) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $6.50 price target on the technology company’s stock, up from their prior price target of $6.00.

Separately, StockNews.com upgraded Nokia Oyj from a buy rating to a strong-buy rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nokia Oyj has a consensus rating of Hold and an average price target of $4.54.

Nokia Oyj Stock Down 2.2 %

Shares of NYSE:NOK opened at $4.24 on Wednesday. The company has a fifty day moving average of $3.98 and a 200-day moving average of $3.77. The company has a market capitalization of $23.39 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 5.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.52.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. On average, equities analysts predict that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

A number of institutional investors and hedge funds have recently bought and sold shares of NOK. New York State Common Retirement Fund acquired a new stake in Nokia Oyj during the 4th quarter worth about $121,000. Russell Investments Group Ltd. grew its holdings in Nokia Oyj by 89.6% during the 4th quarter. Russell Investments Group Ltd. now owns 882,030 shares of the technology company’s stock worth $3,017,000 after acquiring an additional 416,791 shares during the period. First Trust Direct Indexing L.P. grew its holdings in Nokia Oyj by 6.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 81,070 shares of the technology company’s stock worth $277,000 after acquiring an additional 4,761 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Nokia Oyj during the 4th quarter worth about $49,000. Finally, Vestmark Advisory Solutions Inc. grew its holdings in Nokia Oyj by 5.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 59,924 shares of the technology company’s stock worth $205,000 after acquiring an additional 3,129 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.