Analysts Set Nokia Oyj (NYSE:NOK) Target Price at $4.54

Nokia Oyj (NYSE:NOK) has been given an average rating of “Hold” by the nine analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.54.

NOK has been the subject of a number of recent research reports. StockNews.com upgraded Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. Northland Securities reissued an “outperform” rating and issued a $6.50 price objective (up previously from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th.

Institutional Investors Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its holdings in shares of Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Nokia Oyj during the 1st quarter valued at about $35,000. Tieton Capital Management LLC acquired a new position in shares of Nokia Oyj in the 4th quarter valued at about $34,000. Checchi Capital Advisers LLC purchased a new stake in shares of Nokia Oyj in the first quarter worth about $35,000. Finally, Peapack Gladstone Financial Corp purchased a new position in Nokia Oyj during the fourth quarter valued at approximately $35,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Oyj Stock Performance

NOK stock opened at $4.19 on Monday. The stock’s 50 day simple moving average is $4.03 and its 200 day simple moving average is $3.81. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13. Nokia Oyj has a 12-month low of $2.94 and a 12-month high of $4.52. The stock has a market capitalization of $23.14 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 5.13 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. As a group, research analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

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.