Nokia Oyj (NYSE:NOK – Get Free Report) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
Separately, Northland Securities restated an “outperform” rating and issued a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.54.
Get Our Latest Stock Report on Nokia Oyj
Nokia Oyj Price Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, equities analysts anticipate that Nokia Oyj will post 0.36 EPS for the current fiscal year.
Hedge Funds Weigh In On Nokia Oyj
Several large investors have recently added to or reduced their stakes in NOK. Assetmark Inc. increased its position in Nokia Oyj by 8.6% during the fourth quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock worth $120,000 after purchasing an additional 2,788 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Nokia Oyj by 0.4% during the 4th quarter. Neuberger Berman Group LLC now owns 889,260 shares of the technology company’s stock worth $3,041,000 after buying an additional 3,177 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Nokia Oyj by 5.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after buying an additional 5,087,927 shares during the period. Catalytic Wealth RIA LLC acquired a new position in Nokia Oyj in the fourth quarter valued at $44,000. Finally, Qtron Investments LLC purchased a new stake in Nokia Oyj during the fourth quarter valued at about $328,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
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