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

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Several other analysts have also recently issued reports on NOK. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Moderate Buy” and an average target price of $5.42.

Nokia Oyj Trading Up 1.0 %

NYSE NOK opened at $4.48 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The stock has a market capitalization of $24.40 billion, a P/E ratio of 55.94, a PEG ratio of 5.71 and a beta of 1.08. The firm’s 50-day moving average is $4.46 and its two-hundred day moving average is $4.16. Nokia Oyj has a 12 month low of $3.20 and a 12 month high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. On average, sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors have recently modified their holdings of NOK. GAMMA Investing LLC raised its stake in Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj during the third quarter worth approximately $44,000. JGP Wealth Management LLC acquired a new position in Nokia Oyj in the third quarter valued at approximately $45,000. PEAK6 Investments LLC acquired a new stake in Nokia Oyj during the third quarter worth approximately $45,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Nokia Oyj during the 2nd quarter worth approximately $40,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.