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

Nokia Oyj (NYSE:NOK) had its price objective cut by JPMorgan Chase & Co. from $6.35 to $6.30 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group downgraded shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target for the company. in a report on Thursday, January 16th. Finally, StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and an average price target of $5.85.

Nokia Oyj Trading Down 1.1 %

Shares of NOK opened at $4.94 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a 52-week low of $3.29 and a 52-week high of $5.06. 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. The business’s fifty day moving average is $4.63 and its 200-day moving average is $4.45.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. Equities analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. bought a new stake in shares of Nokia Oyj in the third quarter worth $44,000. Foundations Investment Advisors LLC acquired a new position in Nokia Oyj during the 4th quarter worth about $45,000. D.A. Davidson & CO. bought a new stake in shares of Nokia Oyj in the 4th quarter valued at about $46,000. PEAK6 Investments LLC acquired a new stake in shares of Nokia Oyj in the third quarter valued at about $45,000. Finally, Wedmont Private Capital bought a new position in shares of Nokia Oyj during the fourth quarter worth about $47,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.