Nokia Oyj (NYSE:NOK) Rating Lowered to Buy at StockNews.com

Nokia Oyj (NYSE:NOK) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Several other research firms have also weighed in on NOK. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Northland Securities reiterated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum lifted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.62.

Nokia Oyj Price Performance

NOK stock opened at $4.66 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 5.80 and a beta of 1.06. The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.25. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The company had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Equities research analysts expect that Nokia Oyj will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its holdings in shares of Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after buying an additional 8,261,407 shares in the last quarter. FMR LLC grew its stake in Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after acquiring an additional 27,755,460 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Nokia Oyj by 10.6% in the second quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock worth $3,787,000 after purchasing an additional 96,144 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Nokia Oyj by 2,505.3% during the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock worth $3,191,000 after purchasing an additional 702,279 shares during the period. Finally, Bank of Montreal Can purchased a new position in Nokia Oyj during the second quarter valued at approximately $2,501,000. 5.28% of the stock is currently owned by hedge funds and other 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.