Nokia (NYSE:NOK) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Nokia (NYSE:NOK) from a neutral rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have $5.00 price target on the technology company’s stock.

Several other research analysts have also commented on NOK. JPMorgan Chase & Co. decreased their price target on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Nokia currently has an average rating of “Moderate Buy” and an average target price of $5.52.

Nokia Price Performance

NOK opened at $4.56 on Wednesday. The company has a 50-day moving average of $4.49 and a 200-day moving average of $4.92. The company has a market capitalization of $24.51 billion, a P/E ratio of 22.78 and a beta of 0.90. Nokia has a 1-year low of $3.91 and a 1-year high of $5.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46.

Nokia (NYSE:NOK) last released its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.Nokia’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. Equities analysts expect that Nokia will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its stake in Nokia by 1.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after purchasing an additional 1,957,524 shares during the period. Goldman Sachs Group Inc. boosted its stake in Nokia by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares during the period. Woodline Partners LP boosted its stake in Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the period. Acadian Asset Management LLC acquired a new position in Nokia during the 1st quarter valued at about $45,207,000. Finally, Deutsche Bank AG boosted its stake in Nokia by 129.4% during the 1st quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company’s stock valued at $45,179,000 after purchasing an additional 4,835,005 shares during the period. 5.28% of the stock is owned by institutional investors and hedge funds.

About Nokia

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.