StockNews.com Upgrades Nokia Oyj (NYSE:NOK) to “Strong-Buy”

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a report issued on Wednesday.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.43.

Nokia Oyj Stock Performance

Shares of NYSE:NOK opened at $4.49 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $4.47 and a 200-day moving average price of $4.19. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 56.13, a price-to-earnings-growth ratio of 5.80 and a beta of 1.08. Nokia Oyj has a 12 month low of $3.29 and a 12 month high of $4.95.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Maverick Capital Ltd. purchased a new stake in Nokia Oyj in the second quarter worth about $1,240,000. FMR LLC grew its stake in shares of Nokia Oyj by 1,012.3% in the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after buying an additional 27,755,460 shares during the last quarter. XTX Topco Ltd bought a new position in Nokia Oyj during the 3rd quarter valued at approximately $1,417,000. QRG Capital Management Inc. raised its stake in Nokia Oyj by 92.8% during the third quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company’s stock valued at $2,324,000 after buying an additional 255,893 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in Nokia Oyj by 1,101.8% in the third quarter. IHT Wealth Management LLC now owns 179,848 shares of the technology company’s stock worth $786,000 after acquiring an additional 164,883 shares in the last quarter. 5.28% of the stock is currently owned by 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.