Nokia Oyj (NYSE:NOK) Earns “Outperform” Rating from Northland Securities

Nokia Oyj (NYSE:NOK)‘s stock had its “outperform” rating reaffirmed by stock analysts at Northland Securities in a report issued on Wednesday, Benzinga reports. They currently have a $6.50 target price on the technology company’s stock, up from their prior target price of $6.00. Northland Securities’ price target would indicate a potential upside of 49.94% from the company’s previous close.

Separately, StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Stock Down 1.0 %

NOK stock opened at $4.34 on Wednesday. The company’s 50 day moving average price is $3.97 and its 200 day moving average price is $3.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.52. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 5.46 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. On average, equities research analysts anticipate that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOK. Sanctuary Advisors LLC acquired a new stake in shares of Nokia Oyj in the second quarter valued at approximately $206,000. Truist Financial Corp boosted its holdings in shares of Nokia Oyj by 15.7% in the second quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock valued at $76,000 after acquiring an additional 2,710 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Nokia Oyj by 31.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 15,209 shares of the technology company’s stock valued at $57,000 after acquiring an additional 3,669 shares during the period. Creative Planning boosted its holdings in shares of Nokia Oyj by 11.3% in the second quarter. Creative Planning now owns 333,066 shares of the technology company’s stock valued at $1,259,000 after acquiring an additional 33,745 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in shares of Nokia Oyj in the second quarter valued at approximately $1,240,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Company Profile

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.