Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nokia Corporation (NYSE:NOK) have received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.0957.

NOK has been the topic of several research analyst reports. Northland Securities set a $7.50 target price on shares of Nokia in a research note on Friday, October 24th. Santander cut shares of Nokia to a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Nokia in a research note on Monday, December 1st. BNP Paribas Exane raised Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Wednesday, September 3rd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd.

Institutional Trading of Nokia

Several hedge funds have recently bought and sold shares of NOK. Arrowstreet Capital Limited Partnership increased its position in shares of Nokia by 50.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after acquiring an additional 14,482,665 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after purchasing an additional 12,619,099 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Nokia by 17.0% during the 3rd quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after purchasing an additional 11,667,677 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Nokia in the first quarter worth approximately $45,207,000. Finally, Folketrygdfondet lifted its holdings in shares of Nokia by 66.6% in the third quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after purchasing an additional 6,950,487 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Up 0.6%

Shares of NYSE:NOK opened at $6.19 on Wednesday. The business’s 50-day moving average is $6.13 and its 200-day moving average is $5.23. Nokia has a 1 year low of $4.00 and a 1 year high of $8.19. The company has a market capitalization of $34.49 billion, a price-to-earnings ratio of 34.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.23.

Nokia (NYSE:NOK) last issued its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a return on equity of 8.24% and a net margin of 4.65%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Equities research analysts predict that Nokia will post 0.34 earnings per share for the current year.

About Nokia

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.