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

Nokia Oyj (NYSE:NOK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also commented on the company. Craig Hallum raised Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $4.35 to $6.35 in a research report on Monday, December 9th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Nokia Oyj currently has an average rating of “Moderate Buy” and an average price target of $5.42.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $4.48 on Friday. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 5.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. Nokia Oyj has a 1 year low of $3.20 and a 1 year high of $4.95. The firm’s 50-day moving average is $4.46 and its 200 day moving average is $4.16.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Sell-side analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Nokia Oyj by 22.3% in the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after buying an additional 15,035,360 shares during the last quarter. Bank of Montreal Can bought a new stake in Nokia Oyj during the second quarter valued at approximately $2,501,000. Maverick Capital Ltd. purchased a new stake in Nokia Oyj during the second quarter valued at approximately $1,240,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in Nokia Oyj during the third quarter valued at approximately $1,419,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.