Danske Upgrades Nokia Oyj (NYSE:NOK) to Buy

Nokia Oyj (NYSE:NOK) was upgraded by investment analysts at Danske from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

NOK has been the subject of a number of other research reports. Northland Securities reiterated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday. StockNews.com downgraded shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.54.

Nokia Oyj Stock Up 9.4 %

NOK stock opened at $4.75 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $4.28 and its 200 day simple moving average is $3.93. The stock has a market cap of $26.23 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.78.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. As a group, sell-side analysts predict that Nokia Oyj will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. acquired a new stake in Nokia Oyj during the second quarter valued at approximately $1,240,000. PDS Planning Inc raised its holdings in shares of Nokia Oyj by 46.8% during the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock valued at $120,000 after acquiring an additional 10,815 shares during the period. First Affirmative Financial Network lifted its position in shares of Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,932 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Nokia Oyj by 98.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after purchasing an additional 867,297 shares during the period. Finally, CreativeOne Wealth LLC grew its position in Nokia Oyj by 62.3% during the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock worth $63,000 after purchasing an additional 6,768 shares in the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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.