JPMorgan Chase & Co. Issues Pessimistic Forecast for Nokia Oyj (NYSE:NOK) Stock Price

Nokia Oyj (NYSE:NOK) had its price objective reduced by JPMorgan Chase & Co. from $6.35 to $6.30 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 25.87% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a report on Thursday, January 16th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Craig Hallum increased their target price on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.85.

Nokia Oyj Stock Performance

Shares of NOK stock traded up $0.02 during trading hours on Friday, reaching $5.01. 9,444,326 shares of the company’s stock were exchanged, compared to its average volume of 18,802,707. The company has a market cap of $27.29 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 6.38 and a beta of 1.06. The company’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.43. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $5.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Equities research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Large investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj during the third quarter worth $44,000. Foundations Investment Advisors LLC acquired a new stake in shares of Nokia Oyj during the fourth quarter worth $45,000. D.A. Davidson & CO. acquired a new stake in shares of Nokia Oyj during the fourth quarter worth $46,000. PEAK6 Investments LLC acquired a new stake in shares of Nokia Oyj during the third quarter worth $45,000. Finally, Wedmont Private Capital acquired a new stake in shares of Nokia Oyj during the fourth quarter worth $47,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.