JPMorgan Chase & Co. Lowers Nokia Oyj (NYSE:NOK) Price Target to $6.30

Nokia Oyj (NYSE:NOK) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $6.35 to $6.30 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 27.66% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Craig Hallum increased their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group downgraded shares of 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. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.85.

Nokia Oyj Price Performance

NOK opened at $4.94 on Friday. The company has a fifty day simple moving average of $4.63 and a 200 day simple moving average of $4.44. The firm has a market cap of $26.91 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 6.43 and a beta of 1.06. Nokia Oyj has a twelve month low of $3.29 and a twelve month high of $5.06. 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 released its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share 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 expect that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new position in shares of Nokia Oyj in the 4th quarter worth about $712,000. Forum Financial Management LP lifted its position in shares of Nokia Oyj by 100.1% in the 4th quarter. Forum Financial Management LP now owns 191,570 shares of the technology company’s stock worth $849,000 after buying an additional 95,825 shares during the last quarter. Formidable Asset Management LLC bought a new position in shares of Nokia Oyj in the 4th quarter worth about $49,000. Woodline Partners LP lifted its position in shares of Nokia Oyj by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock worth $53,162,000 after buying an additional 6,677,017 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Nokia Oyj by 106.3% in the 4th quarter. Two Sigma Advisers LP now owns 528,000 shares of the technology company’s stock worth $2,339,000 after buying an additional 272,000 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors.

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.