Brokerages Set Nokia Oyj (NYSE:NOK) Price Target at $5.85

Nokia Oyj (NYSE:NOK) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.85.

NOK has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating for the company in a research note on Friday, February 21st. Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. 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 research note on Monday, February 3rd.

Nokia Oyj Stock Up 2.6 %

Nokia Oyj stock opened at $5.34 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.58 and a quick ratio of 1.39. The company’s 50-day moving average is $4.81 and its 200-day moving average is $4.55. The firm has a market capitalization of $29.09 billion, a PE ratio of 21.34, a P/E/G ratio of 6.43 and a beta of 1.11. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.35.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data 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%. 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 and hedge funds have recently bought and sold shares of NOK. PEAK6 Investments LLC acquired a new stake in shares of Nokia Oyj during the 3rd quarter worth approximately $45,000. Foundations Investment Advisors LLC bought a new stake in Nokia Oyj during the fourth quarter worth $45,000. D.A. Davidson & CO. bought a new position in shares of Nokia Oyj in the 4th quarter valued at $46,000. Wedmont Private Capital acquired a new position in shares of Nokia Oyj during the 4th quarter worth $47,000. Finally, Wealthstream Advisors Inc. bought a new stake in shares of Nokia Oyj during the 4th quarter worth $49,000. Institutional investors own 5.28% of the company’s stock.

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.