Brokerages Set Nokia Oyj (NYSE:NOK) Price Target at $5.85

Nokia Oyj (NYSE:NOK) has received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.85.

A number of analysts have recently issued reports on NOK shares. Craig Hallum boosted their price objective on Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group cut shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price on the stock. in a research note on Thursday, January 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOK. PEAK6 Investments LLC acquired a new stake in Nokia Oyj in the third quarter worth $45,000. Foundations Investment Advisors LLC acquired a new position in shares of Nokia Oyj in the 4th quarter valued at $45,000. D.A. Davidson & CO. bought a new stake in shares of Nokia Oyj in the 4th quarter valued at $46,000. Wedmont Private Capital acquired a new stake in Nokia Oyj during the 4th quarter worth $47,000. Finally, Wealthstream Advisors Inc. bought a new position in Nokia Oyj during the fourth quarter worth about $49,000. Institutional investors own 5.28% of the company’s stock.

Nokia Oyj Stock Up 1.1 %

Shares of NYSE:NOK opened at $5.21 on Monday. The firm has a 50 day simple moving average of $4.78 and a 200 day simple moving average of $4.54. Nokia Oyj has a 52 week low of $3.29 and a 52 week high of $5.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. The company has a market cap of $28.38 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 6.43 and a beta of 1.11.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a return on equity of 10.30% and a net margin of 6.54%. As a group, research analysts expect that Nokia Oyj will post 0.34 earnings per share 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.