Nokia Oyj (NYSE:NOK) Receives $6.43 Average Price Target from Brokerages

Shares of Nokia Oyj (NYSE:NOK) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.43.

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

Hedge Funds Weigh In On Nokia Oyj

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares during the period. Arkadios Wealth Advisors bought a new stake in Nokia Oyj in the 2nd quarter worth approximately $40,000. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj during the 3rd quarter valued at $44,000. Alternative Investment Advisors LLC. bought a new position in shares of Nokia Oyj during the 2nd quarter valued at $45,000. Finally, JGP Wealth Management LLC purchased a new position in shares of Nokia Oyj in the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $4.48 on Wednesday. The company’s fifty day moving average price is $4.47 and its 200-day moving average price is $4.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 5.80 and a beta of 1.08. Nokia Oyj has a one year low of $3.29 and a one year high of $4.95.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The business had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. On average, equities research analysts anticipate 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.