Nokia Oyj (NYSE:NOK) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Nokia Oyj (NYSE:NOK) from a neutral rating to a sell rating in a research note released on Thursday morning, Marketbeat.com reports. They currently have $3.60 target price on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Craig Hallum lifted their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. 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. Finally, Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.86.

Nokia Oyj Stock Up 1.5 %

Shares of NOK stock opened at $4.51 on Thursday. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 56.31, a P/E/G ratio of 5.61 and a beta of 1.06. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95. The firm has a fifty day moving average of $4.40 and a 200-day moving average of $4.28. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting 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 return on equity of 8.32% and a net margin of 2.18%. As a group, equities research analysts predict that Nokia Oyj will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of the company. 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 buying an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Nokia Oyj during the 3rd quarter worth approximately $44,000. Alternative Investment Advisors LLC. acquired a new position in shares of Nokia Oyj during the 2nd quarter worth approximately $45,000. JGP Wealth Management LLC bought a new stake in Nokia Oyj in the 3rd quarter valued at $45,000. Finally, PEAK6 Investments LLC acquired a new stake in Nokia Oyj during the 3rd quarter valued at $45,000. 5.28% of the stock is owned by institutional investors.

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.