Nokia Oyj (NYSE:NOK) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

NOK has been the topic of a number of other research reports. Northland Securities reiterated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum increased their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Nokia Oyj presently has an average rating of “Moderate Buy” and an average price target of $6.62.

Nokia Oyj Stock Up 0.6 %

Shares of NYSE:NOK opened at $4.66 on Wednesday. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 5.80 and a beta of 1.06. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $4.95. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $4.42 and a 200 day moving average price of $4.25.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. As a group, equities research analysts predict that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOK. GAMMA Investing LLC increased its position in shares of Nokia Oyj by 57.5% during the fourth quarter. GAMMA Investing LLC now owns 13,449 shares of the technology company’s stock worth $60,000 after acquiring an additional 4,909 shares during the period. JPMorgan Chase & Co. grew its stake in Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company’s stock worth $3,191,000 after purchasing an additional 702,279 shares in the last quarter. Franklin Resources Inc. increased its holdings in Nokia Oyj by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 439,818 shares of the technology company’s stock worth $1,935,000 after purchasing an additional 5,190 shares during the period. Tidal Investments LLC raised its position in Nokia Oyj by 15.3% during the 3rd quarter. Tidal Investments LLC now owns 52,596 shares of the technology company’s stock valued at $230,000 after purchasing an additional 6,965 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Nokia Oyj by 10.6% in the 3rd quarter. M&T Bank Corp now owns 67,275 shares of the technology company’s stock worth $294,000 after buying an additional 6,463 shares during the period. Institutional investors own 5.28% of the company’s stock.

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.