Nokia Oyj (NYSE:NOK) Raised to “Strong-Buy” at StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Separately, Northland Securities reiterated an “outperform” rating and set a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.54.

Nokia Oyj Trading Up 0.8 %

NYSE:NOK opened at $4.39 on Tuesday. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.52. The stock has a market cap of $24.22 billion, a P/E ratio of 27.41, a P/E/G ratio of 5.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. The stock has a 50-day simple moving average of $4.14 and a 200-day simple moving average of $3.86.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its stake in Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in shares of Nokia Oyj during the fourth quarter worth about $35,000. Checchi Capital Advisers LLC purchased a new position in shares of Nokia Oyj during the first quarter worth about $35,000. Allspring Global Investments Holdings LLC acquired a new position in Nokia Oyj in the 1st quarter valued at about $35,000. Finally, Perigon Wealth Management LLC purchased a new stake in Nokia Oyj during the 1st quarter valued at approximately $38,000. 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.