Nokia Oyj (NYSE:NOK) Receives Average Rating of “Hold” from Brokerages

Shares of Nokia Oyj (NYSE:NOK) have received an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.56.

A number of research firms recently commented on NOK. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. JPMorgan Chase & Co. reduced their price target on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Northland Securities reissued an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its position 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 valued at $133,273,000 after buying an additional 27,755,460 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Nokia Oyj by 22.3% in the 2nd quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock valued at $311,943,000 after acquiring an additional 15,035,360 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Nokia Oyj in the second quarter worth $2,501,000. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj during the second quarter worth $1,240,000. Finally, Moloney Securities Asset Management LLC acquired a new position in Nokia Oyj during the third quarter valued at $1,419,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.20 on Friday. The company has a market capitalization of $22.87 billion, a PE ratio of 52.44, a P/E/G ratio of 5.42 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.95. The business’s fifty day simple moving average is $4.47 and its 200-day simple moving average is $4.13.

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