Nokia Oyj (NYSE:NOK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Nokia Oyj (NYSE:NOK) has received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.85.

NOK has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a research note on Thursday, January 16th. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Craig Hallum boosted their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its position in shares of Nokia Oyj by 29.9% during the fourth quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after acquiring an additional 158,935 shares during the last quarter. FMR LLC lifted its position in Nokia Oyj by 1,012.3% during the third 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 last quarter. XTX Topco Ltd bought a new position in Nokia Oyj during the third quarter valued at $1,417,000. Allspring Global Investments Holdings LLC lifted its position in Nokia Oyj by 14.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock valued at $226,000 after purchasing an additional 6,395 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Nokia Oyj by 261.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock valued at $457,000 after purchasing an additional 74,552 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Up 1.3 %

Shares of Nokia Oyj stock opened at $5.23 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The stock has a market capitalization of $28.49 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $5.26. The company has a 50-day simple moving average of $4.73 and a two-hundred day simple moving average of $4.52.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 EPS for the quarter, topping 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%. On average, analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

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.