Nokia Oyj (NYSE:NOK) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Separately, Northland Securities reissued an outperform rating and issued a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $4.54.

Nokia Oyj Stock Performance

NOK opened at $4.36 on Thursday. 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 company has a market cap of $24.08 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 5.47 and a beta of 1.12. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.52. The firm’s fifty day simple moving average is $4.21 and its two-hundred day simple moving average is $3.90.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $5.12 billion. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. Equities analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its position in shares of Nokia Oyj by 22.3% during the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock valued at $311,943,000 after acquiring an additional 15,035,360 shares during the last quarter. Sei Investments Co. increased its position in shares of Nokia Oyj by 1.5% during the first quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock valued at $9,467,000 after acquiring an additional 40,264 shares during the last quarter. TSP Capital Management Group LLC increased its position in shares of Nokia Oyj by 89.2% during the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock valued at $7,715,000 after acquiring an additional 1,027,600 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Nokia Oyj by 98.3% during the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after acquiring an additional 867,297 shares during the last quarter. Finally, Susquehanna International Securities Ltd. grew its holdings in shares of Nokia Oyj by 13.9% in the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock valued at $5,795,000 after purchasing an additional 199,590 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.