Nokia Oyj (NYSE:NOK) Rating Increased to Overweight at JPMorgan Chase & Co.

Nokia Oyj (NYSE:NOK) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $6.35 price target on the technology company’s stock, up from their prior price target of $4.35. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 43.83% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.06.

Nokia Oyj Trading Up 0.3 %

Shares of NOK opened at $4.42 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $3.11 and a 12-month high of $4.95. The firm has a market capitalization of $24.07 billion, a PE ratio of 55.00, a price-to-earnings-growth ratio of 5.49 and a beta of 1.08. The stock’s fifty day simple moving average is $4.45 and its 200-day simple moving average is $4.15.

Nokia Oyj (NYSE:NOK) last issued its quarterly 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. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The business had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. As a group, research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its position in shares of Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock worth $396,735,000 after purchasing an additional 8,261,407 shares during the period. FMR LLC raised its position 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 worth $133,273,000 after purchasing an additional 27,755,460 shares during the period. American Century Companies Inc. raised 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 purchasing an additional 96,144 shares during the period. Waterfront Wealth Inc. raised its position in shares of Nokia Oyj by 10.3% during the second quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock worth $2,880,000 after purchasing an additional 71,022 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Nokia Oyj during the second quarter worth about $2,501,000. Institutional investors own 5.28% of the company’s stock.

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.