Nokia Oyj (NYSE:NOK) Given Average Recommendation of “Hold” by Brokerages

Nokia Oyj (NYSE:NOK) has been given an average rating of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.56.

Several equities research analysts have recently issued reports on NOK shares. JPMorgan Chase & Co. lowered their target price on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th. Northland Securities reissued an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th.

Institutional Investors Weigh In On Nokia Oyj

A number of large investors have recently modified their holdings of NOK. Pzena Investment Management LLC lifted its stake in shares of Nokia Oyj by 10.0% in the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after buying an additional 8,261,407 shares in the last quarter. FMR LLC lifted its stake 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 worth $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Nokia Oyj by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after purchasing an additional 96,144 shares during the last quarter. Waterfront Wealth Inc. grew its position in shares of Nokia Oyj by 10.3% in the second quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock valued at $2,880,000 after purchasing an additional 71,022 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Nokia Oyj in the second quarter valued at approximately $2,501,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.20 on Friday. 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 has a 50 day moving average of $4.47 and a two-hundred day moving average of $4.13. The company has a market capitalization of $22.87 billion, a PE ratio of 52.44, a PEG ratio of 5.42 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm 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%. As a group, analysts forecast that Nokia Oyj will post 0.34 EPS for the current 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.