Nokia Oyj (NYSE:NOK) Receives Average Rating of “Hold” from Brokerages

Nokia Oyj (NYSE:NOK) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.86.

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Craig Hallum upped their target price on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.35 to $6.35 in a report on Monday, December 9th. Finally, The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a report on Thursday.

Nokia Oyj Stock Performance

Shares of NYSE NOK opened at $4.51 on Friday. Nokia Oyj has a 12-month low of $3.29 and a 12-month high of $4.95. The company has a market cap of $24.56 billion, a PE ratio of 56.31, a P/E/G ratio of 5.61 and a beta of 1.06. The stock has a 50 day simple moving average of $4.40 and a 200-day simple moving average of $4.28. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. On average, equities research analysts forecast that Nokia Oyj will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors have recently bought and sold shares of the stock. Maverick Capital Ltd. acquired a new position in Nokia Oyj during the second quarter valued at $1,240,000. FMR LLC increased its holdings in shares of Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares during the period. XTX Topco Ltd bought a new position in Nokia Oyj during the third quarter valued at approximately $1,417,000. QRG Capital Management Inc. grew its position in Nokia Oyj by 92.8% in the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock worth $2,324,000 after acquiring an additional 255,893 shares in the last quarter. Finally, IHT Wealth Management LLC increased its stake in shares of Nokia Oyj by 1,101.8% during the 3rd quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock worth $786,000 after purchasing an additional 164,883 shares during the last quarter. Hedge funds and other institutional investors 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.