Nokia Oyj (NYSE:NOK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nokia Oyj (NYSE:NOK) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.43.

NOK has been the topic of a number of research analyst reports. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities restated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th.

Institutional Investors Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently made changes to their positions in NOK. Maverick Capital Ltd. purchased a new stake in Nokia Oyj in the second quarter valued at approximately $1,240,000. FMR LLC raised its position in Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. XTX Topco Ltd acquired a new stake in Nokia Oyj during the 3rd quarter worth $1,417,000. QRG Capital Management Inc. boosted its stake in Nokia Oyj by 92.8% during the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 255,893 shares during the period. Finally, IHT Wealth Management LLC increased its stake in Nokia Oyj by 1,101.8% in the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock valued at $786,000 after purchasing an additional 164,883 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Trading Up 0.9 %

Shares of NYSE:NOK opened at $4.49 on Wednesday. The business’s 50-day moving average is $4.47 and its 200 day moving average is $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 has a 1 year low of $3.29 and a 1 year high of $4.95. The firm has a market capitalization 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 (NYSE:NOK) last released 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 firm had revenue of $4.75 billion during 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, research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

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.