Nokia Oyj (NYSE:NOK) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Other analysts have also recently issued reports about the company. Craig Hallum upped 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. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities restated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Finally, Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Moderate Buy” and an average target price of $6.62.

Nokia Oyj Stock Down 3.2 %

Shares of NYSE NOK opened at $4.51 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 5.80 and a beta of 1.06. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $4.95. The stock has a 50-day moving average price of $4.42 and a two-hundred day moving average price of $4.25.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. As a group, analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. purchased a new stake in Nokia Oyj in the 2nd quarter valued at $1,240,000. FMR LLC grew its stake in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after acquiring an additional 27,755,460 shares during the period. XTX Topco Ltd bought a new position in shares of Nokia Oyj during the 3rd quarter worth $1,417,000. QRG Capital Management Inc. grew its stake in shares of 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 acquiring an additional 255,893 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in Nokia Oyj by 1,101.8% in the 3rd quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock worth $786,000 after purchasing an additional 164,883 shares during the period. 5.28% of the stock is owned by hedge funds and other 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.