Brokerages Set Nokia Oyj (NYSE:NOK) Price Target at $4.54

Nokia Oyj (NYSE:NOK) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $4.54.

A number of research analysts recently weighed in on NOK shares. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday. Northland Securities restated an “outperform” rating and issued a $6.50 price target (up previously from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Nokia Oyj in the fourth quarter valued at approximately $275,000. Virtu Financial LLC boosted its stake in shares of Nokia Oyj by 123.1% during the fourth quarter. Virtu Financial LLC now owns 490,729 shares of the technology company’s stock worth $1,678,000 after buying an additional 270,752 shares during the period. Syon Capital LLC purchased a new position in shares of Nokia Oyj during the fourth quarter worth about $46,000. SageView Advisory Group LLC acquired a new position in Nokia Oyj in the 4th quarter valued at about $48,000. Finally, Sivia Capital Partners LLC purchased a new stake in Nokia Oyj during the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj Stock Down 1.1 %

NYSE:NOK opened at $4.36 on Friday. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.52. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $4.21 and its two-hundred day moving average is $3.90. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its earnings results 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. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. Research analysts anticipate that Nokia Oyj will post 0.36 EPS for the current year.

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.