Nokia Oyj (NYSE:NOK) Receives $5.85 Consensus Price Target from Analysts

Nokia Oyj (NYSE:NOK) has been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.85.

A number of analysts have issued reports on the company. The Goldman Sachs Group downgraded Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective on the stock. in a research note on Thursday, January 16th. StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Craig Hallum upped their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a report on Friday, February 21st.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds have recently modified their holdings of NOK. QRG Capital Management Inc. grew its position in Nokia Oyj by 29.9% during the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after purchasing an additional 158,935 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Nokia Oyj by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 394,867 shares of the technology company’s stock worth $1,749,000 after buying an additional 48,509 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Nokia Oyj in the 4th quarter valued at about $2,116,000. XTX Topco Ltd purchased a new position in shares of Nokia Oyj during the 3rd quarter valued at approximately $1,417,000. Finally, Raymond James Financial Inc. purchased a new position in Nokia Oyj in the 4th quarter valued at about $2,961,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Performance

NYSE:NOK opened at $4.77 on Friday. The stock has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.66. The stock has a market capitalization of $25.98 billion, a P/E ratio of 19.06, a P/E/G ratio of 6.43 and a beta of 0.97. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $5.48. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Equities research analysts forecast that Nokia Oyj will post 0.34 EPS 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.