Nokia Oyj (NYSE:NOK) Given Average Rating of “Moderate Buy” by Brokerages

Nokia Oyj (NYSE:NOK) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.43.

NOK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price target for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently made changes to their positions in NOK. Allspring Global Investments Holdings LLC boosted its stake in shares of Nokia Oyj by 240.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 33,916 shares of the technology company’s stock worth $128,000 after purchasing an additional 23,944 shares during the period. Atomi Financial Group Inc. boosted its position in shares of Nokia Oyj by 122.5% during the second quarter. Atomi Financial Group Inc. now owns 29,315 shares of the technology company’s stock valued at $111,000 after buying an additional 16,139 shares during the period. Checchi Capital Advisers LLC grew its stake in shares of Nokia Oyj by 39.0% during the second quarter. Checchi Capital Advisers LLC now owns 13,911 shares of the technology company’s stock valued at $53,000 after buying an additional 3,900 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Nokia Oyj in the second quarter worth approximately $40,000. Finally, Signaturefd LLC lifted its stake in shares of Nokia Oyj by 11.6% during the 2nd quarter. Signaturefd LLC now owns 101,999 shares of the technology company’s stock worth $386,000 after acquiring an additional 10,580 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Oyj Trading Up 0.9 %

NOK opened at $4.49 on Wednesday. The firm has a market capitalization 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 has a one year low of $3.29 and a one year high of $4.95. The business has a 50 day simple moving average of $4.47 and a two-hundred day simple moving average of $4.18. 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 issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $5.10 billion. Analysts predict that Nokia Oyj will post 0.34 EPS for the current 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.