Nokia Oyj (NYSE:NOK) Upgraded to “Strong-Buy” at StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently issued reports on NOK. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities restated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.43.

Nokia Oyj Stock Up 0.9 %

Shares of NOK opened at $4.49 on Wednesday. The firm has a market cap of $24.48 billion, a P/E ratio of 56.13, a P/E/G ratio of 5.80 and a beta of 1.08. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The stock has a 50 day simple moving average of $4.47 and a two-hundred day simple moving average of $4.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors have recently bought and sold shares of NOK. Pzena Investment Management LLC boosted its position in Nokia Oyj by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after acquiring an additional 8,261,407 shares in the last quarter. FMR LLC raised its holdings in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. American Century Companies Inc. lifted its position in Nokia Oyj by 10.6% during the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after buying an additional 96,144 shares during the period. Waterfront Wealth Inc. boosted its holdings in shares of Nokia Oyj by 10.3% during the 2nd quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock valued at $2,880,000 after buying an additional 71,022 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Nokia Oyj in the 2nd quarter worth about $2,501,000. 5.28% of the stock is owned by institutional investors.

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.