Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a research note published on Friday.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, 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. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.42.

Nokia Oyj Trading Up 1.1 %

NYSE NOK opened at $4.48 on Friday. The company’s fifty day simple moving average is $4.46 and its 200-day simple moving average is $4.16. The stock has a market cap of $24.43 billion, a P/E ratio of 56.00, a PEG ratio of 5.71 and a beta of 1.08. Nokia Oyj has a 52 week low of $3.20 and a 52 week high of $4.95. 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 (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors have recently made changes to their positions in the stock. 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 purchasing an additional 8,261,407 shares during the period. FMR LLC boosted its holdings in shares of Nokia Oyj by 1,012.3% during the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares during the period. American Century Companies Inc. grew its position in shares of 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 worth $3,787,000 after acquiring an additional 96,144 shares during the last quarter. Waterfront Wealth Inc. increased its holdings in shares of Nokia Oyj by 10.3% in the 2nd quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock worth $2,880,000 after acquiring an additional 71,022 shares during the period. Finally, Bank of Montreal Can acquired a new position in Nokia Oyj during the 2nd quarter valued at 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.