Danske upgraded shares of Nokia Oyj (NYSE:NOK – Free Report) from a hold rating to a buy rating in a research note released on Friday morning, Marketbeat reports.
A number of other analysts have also weighed in on NOK. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Northland Securities restated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj presently has an average rating of “Hold” and an average target price of $4.54.
Read Our Latest Research Report on NOK
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. As a group, equities research analysts forecast that Nokia Oyj will post 0.36 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Nokia Oyj in the 1st quarter worth approximately $35,000. JGP Wealth Management LLC purchased a new stake in Nokia Oyj during the 3rd quarter worth approximately $45,000. Finally, Simplicity Wealth LLC acquired a new position in Nokia Oyj during the 2nd quarter valued at approximately $39,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
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