Nokia Oyj (NYSE:NOK) Receives $4.56 Average Target Price from Brokerages

Nokia Oyj (NYSE:NOK) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.56.

A number of equities research analysts have recently weighed in on NOK shares. Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research report on Monday, October 21st. Danske upgraded Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 26th.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.20 on Friday. The business has a 50-day moving average of $4.47 and a 200 day moving average of $4.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.95. The stock has a market capitalization of $22.90 billion, a PE ratio of 52.50, a P/E/G ratio of 5.44 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The company had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp raised its holdings in Nokia Oyj by 15.7% in the 2nd quarter. Truist Financial Corp now owns 19,990 shares of the technology company’s stock worth $76,000 after acquiring an additional 2,710 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Nokia Oyj by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,592 shares of the technology company’s stock valued at $392,000 after purchasing an additional 2,776 shares during the period. Caprock Group LLC boosted its holdings in Nokia Oyj by 5.5% in the third quarter. Caprock Group LLC now owns 57,766 shares of the technology company’s stock worth $252,000 after purchasing an additional 3,023 shares during the last quarter. V Square Quantitative Management LLC grew its position in Nokia Oyj by 3.9% in the 2nd quarter. V Square Quantitative Management LLC now owns 83,509 shares of the technology company’s stock worth $328,000 after purchasing an additional 3,097 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Nokia Oyj by 30.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,580 shares of the technology company’s stock valued at $59,000 after buying an additional 3,199 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

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.