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

Nokia Corporation (NYSE:NOK) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $12.5671.

Several research analysts have commented on NOK shares. JPMorgan Chase & Co. lifted their price objective on shares of Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Friday, May 15th.

Institutional Trading of Nokia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after purchasing an additional 2,721 shares during the last quarter. Wexford Capital LP bought a new stake in Nokia during the 3rd quarter valued at about $29,000. FNY Investment Advisers LLC boosted its position in Nokia by 33,457.1% in the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock valued at $30,000 after buying an additional 4,684 shares during the period. Dorato Capital Management bought a new position in Nokia in the 4th quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Nokia during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

Nokia Price Performance

NYSE:NOK opened at $10.29 on Thursday. The firm has a market capitalization of $59.12 billion, a price-to-earnings ratio of 64.35, a PEG ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. The business has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $10.25. Nokia has a 1 year low of $4.00 and a 1 year high of $17.45.

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

About Nokia

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.