Nokia Oyj (NYSE:NOK) Rating Increased to Strong-Buy at Craig Hallum

Nokia Oyj (NYSE:NOK) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other brokerages also recently commented on NOK. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Northland Securities restated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.75 on Thursday. The firm has a 50 day moving average of $4.28 and a 200 day moving average of $3.93. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $26.21 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.78.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.12 billion. On average, sell-side analysts predict that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Large investors have recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new stake in Nokia Oyj during the 4th quarter worth about $48,000. CWM LLC raised its stake in shares of Nokia Oyj by 40.4% in the first quarter. CWM LLC now owns 17,542 shares of the technology company’s stock worth $62,000 after purchasing an additional 5,049 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Nokia Oyj by 48.2% during the first 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. Ballentine Partners LLC boosted its position in Nokia Oyj by 36.1% in the first quarter. Ballentine Partners LLC now owns 42,984 shares of the technology company’s stock valued at $152,000 after buying an additional 11,392 shares during the last quarter. Finally, DGS Capital Management LLC increased its holdings in Nokia Oyj by 8.4% in the 1st quarter. DGS Capital Management LLC now owns 58,572 shares of the technology company’s stock worth $207,000 after buying an additional 4,544 shares during the period. 5.28% of the stock is 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.