Nokia Oyj (NYSE:NOK) Receives $6.43 Consensus Price Target from Analysts

Nokia Oyj (NYSE:NOK) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.43.

A number of brokerages recently commented on NOK. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research report on Friday, October 18th. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price target for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Nokia Oyj during the 2nd quarter valued at $40,000. Pinnacle Associates Ltd. bought a new position in shares of Nokia Oyj in the third quarter worth $44,000. Alternative Investment Advisors LLC. purchased a new stake in shares of Nokia Oyj in the second quarter worth $45,000. Finally, JGP Wealth Management LLC bought a new stake in Nokia Oyj during the third quarter valued at $45,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Oyj Stock Performance

NOK opened at $4.48 on Wednesday. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $4.95. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 5.80 and a beta of 1.08. The company’s fifty day moving average price is $4.47 and its two-hundred day moving average price is $4.20. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) 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 business had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. On average, analysts expect that Nokia Oyj will post 0.34 EPS for the current fiscal 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.