Nokia Oyj (NYSE:NOK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Nokia Oyj (NYSE:NOK) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.43.

Several equities analysts have weighed in on NOK shares. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.35 to $6.35 in a report on Monday, December 9th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities reissued an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th.

Institutional Trading of Nokia Oyj

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Nokia Oyj in the 2nd quarter valued at $40,000. Pinnacle Associates Ltd. purchased a new stake in shares of Nokia Oyj during the 3rd quarter valued at $44,000. Alternative Investment Advisors LLC. acquired a new stake in shares of Nokia Oyj during the 2nd quarter worth $45,000. Finally, JGP Wealth Management LLC purchased a new position in shares of Nokia Oyj in the 3rd quarter worth $45,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Price Performance

NOK stock opened at $4.48 on Wednesday. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 5.80 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $4.47 and a 200-day moving average of $4.20. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The company had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. As a group, equities analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

About Nokia Oyj

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.