Analysts Set Nokia Oyj (NYSE:NOK) PT at $4.56

Nokia Oyj (NYSE:NOK) has earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.56.

A number of equities analysts have recently weighed in on the company. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th.

Nokia Oyj Price Performance

Nokia Oyj stock opened at $4.20 on Friday. 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 company’s 50-day moving average is $4.47 and its 200-day moving average is $4.13. The firm has a market capitalization of $22.90 billion, a PE ratio of 52.50, a P/E/G ratio of 5.44 and a beta of 1.12. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.95.

Nokia Oyj (NYSE:NOK) last announced 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 during the quarter, compared to the consensus estimate of $5.10 billion. Sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Truist Financial Corp boosted its stake in shares of Nokia Oyj by 15.7% in the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after buying an additional 2,710 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Nokia Oyj by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock valued at $392,000 after purchasing an additional 2,776 shares during the period. Caprock Group LLC lifted its holdings in Nokia Oyj by 5.5% during the 3rd quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after purchasing an additional 3,023 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Nokia Oyj by 3.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock valued at $328,000 after purchasing an additional 3,097 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in Nokia Oyj by 30.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock worth $59,000 after acquiring an additional 3,199 shares during the last quarter. Institutional investors and hedge funds 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.