Nokia Oyj (NYSE:NOK) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.

A number of other brokerages have also weighed in on NOK. Northland Securities restated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.43.

Nokia Oyj Trading Up 0.9 %

Shares of Nokia Oyj stock opened at $4.49 on Wednesday. The company’s 50-day moving average price is $4.47 and its 200-day moving average price is $4.19. 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 $3.29 and a 12-month high of $4.95. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 56.13, a PEG ratio of 5.80 and a beta of 1.08.

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, hitting the consensus estimate of $0.07. The business had revenue of $4.75 billion for 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%. On average, equities analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after purchasing an additional 3,427 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Nokia Oyj in the second quarter worth about $40,000. Pinnacle Associates Ltd. bought a new stake in shares of Nokia Oyj in the 3rd quarter valued at about $44,000. Alternative Investment Advisors LLC. purchased a new stake in Nokia Oyj during the 2nd quarter valued at about $45,000. Finally, JGP Wealth Management LLC bought a new position in Nokia Oyj during the 3rd quarter worth approximately $45,000. Hedge funds and other 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.