Analysts Set Nokia Oyj (NYSE:NOK) PT at $6.43

Shares of Nokia Oyj (NYSE:NOK) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.43.

A number of equities research analysts have recently issued reports on the company. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum raised shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 25th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Nokia Oyj by 22.3% in the 2nd quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after acquiring an additional 15,035,360 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Nokia Oyj by 2,505.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock valued at $3,191,000 after acquiring an additional 702,279 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Nokia Oyj during the 2nd quarter valued at approximately $2,501,000. Finally, Maverick Capital Ltd. bought a new position in Nokia Oyj during the second quarter worth $1,240,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Trading Up 0.2 %

Shares of NOK stock opened at $4.48 on Wednesday. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95. The firm’s 50 day moving average price is $4.47 and its two-hundred day moving average price is $4.20. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 5.80 and a beta of 1.08. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

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 business had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, analysts anticipate that Nokia Oyj will post 0.34 EPS for the current 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.