Nokia Oyj (NYSE:NOK) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

A number of other equities analysts have also recently issued reports on the stock. Craig Hallum raised their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. Northland Securities reissued an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research report on Friday, October 18th. Finally, Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.62.

Nokia Oyj Stock Performance

NYSE NOK opened at $4.51 on Wednesday. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 5.80 and a beta of 1.06. The company has a 50 day moving average of $4.42 and a 200-day moving average of $4.25. 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 has a 1-year low of $3.29 and a 1-year high of $4.95.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.10 billion. On average, equities analysts forecast that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nokia Oyj during the third quarter worth $44,000. Alternative Investment Advisors LLC. acquired a new stake in shares of Nokia Oyj during the second quarter worth $45,000. JGP Wealth Management LLC acquired a new stake in shares of Nokia Oyj during the third quarter worth $45,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Nokia Oyj during the third quarter worth $45,000. 5.28% of the stock is owned by institutional investors.

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.