Nokia Oyj (NYSE:NOK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nokia Oyj (NYSE:NOK) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.86.

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum lifted their price target on 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 cut Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price objective for the company. in a research note 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.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors and hedge funds have recently modified their holdings of NOK. Truist Financial Corp raised its position in Nokia Oyj by 15.7% during the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after acquiring an additional 2,710 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Nokia Oyj during the 2nd quarter valued at approximately $206,000. GAMMA Investing LLC lifted its stake in shares of Nokia Oyj by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Nokia Oyj by 21.1% during the third quarter. Valeo Financial Advisors LLC now owns 22,400 shares of the technology company’s stock worth $98,000 after buying an additional 3,905 shares in the last quarter. Finally, Creative Planning grew its position in Nokia Oyj by 21.1% during the third quarter. Creative Planning now owns 403,246 shares of the technology company’s stock valued at $1,762,000 after buying an additional 70,180 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Down 0.9 %

Nokia Oyj stock opened at $4.95 on Thursday. The business has a fifty day moving average price of $4.60 and a 200-day moving average price of $4.43. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $5.06. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 6.43 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping 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 research analysts forecast 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.