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

Nokia Corporation (NYSE:NOK) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.71.

NOK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Friday, May 15th. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, April 27th. Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Finally, Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th.

Institutional Investors Weigh In On Nokia

Institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its position in Nokia by 34.6% in the fourth quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after acquiring an additional 138,935 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Nokia in the third quarter valued at $4,595,000. Penserra Capital Management LLC lifted its position in Nokia by 38.0% in the third quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock valued at $37,328,000 after acquiring an additional 2,136,545 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Nokia in the third quarter valued at $11,910,000. Finally, Pzena Investment Management LLC lifted its position in Nokia by 14.5% in the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after acquiring an additional 11,612,590 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Price Performance

Nokia stock opened at $16.81 on Wednesday. The stock has a market cap of $96.52 billion, a P/E ratio of 105.06, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15. The company has a fifty day simple moving average of $11.48 and a 200-day simple moving average of $8.49. Nokia has a 12-month low of $4.00 and a 12-month high of $17.11. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $5.21 billion during the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. Equities analysts expect that Nokia will post 0.4 EPS for the current fiscal year.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.