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

Nokia Oyj (NYSE:NOK) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other research analysts have also commented on the company. Craig Hallum increased their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities restated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.62.

Nokia Oyj Stock Up 0.6 %

Shares of Nokia Oyj stock opened at $4.66 on Wednesday. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 58.25, a P/E/G ratio of 5.80 and a beta of 1.06. The stock has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $4.25. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46.

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 analysts’ consensus estimates 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%. On average, equities research analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOK. GAMMA Investing LLC increased its position in Nokia Oyj by 67.0% during 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. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj in the 3rd quarter worth $44,000. Alternative Investment Advisors LLC. bought a new position in shares of Nokia Oyj during the 2nd quarter worth about $45,000. JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj during the third quarter valued at about $45,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Nokia Oyj in the third quarter valued at about $45,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.