StockNews.com Downgrades Nokia Oyj (NYSE:NOK) to Buy

StockNews.com lowered shares of Nokia Oyj (NYSE:NOKFree Report) from a strong-buy rating to a buy rating in a research note published on Thursday.

Separately, Northland Securities restated an outperform rating and issued a $6.50 price target (up previously from $6.00) on shares of Nokia Oyj in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $4.54.

Check Out Our Latest Stock Analysis on NOK

Nokia Oyj Stock Down 1.1 %

Nokia Oyj stock opened at $4.36 on Thursday. The stock has a market cap of $23.97 billion, a PE ratio of 62.29, a price-to-earnings-growth ratio of 5.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. Nokia Oyj has a one year low of $2.94 and a one year high of $4.52. The stock has a fifty day moving average of $4.21 and a 200 day moving average of $3.90.

Nokia Oyj (NYSE:NOKGet Free Report) last issued its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 EPS 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 analysts’ expectations of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. As a group, sell-side analysts predict that Nokia Oyj will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

A number of hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in Nokia Oyj by 29.0% during the first quarter. Pzena Investment Management LLC now owns 67,489,193 shares of the technology company’s stock valued at $238,912,000 after buying an additional 15,175,751 shares during the last quarter. TSP Capital Management Group LLC raised its holdings in shares of Nokia Oyj by 89.2% in the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after buying an additional 1,027,600 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Nokia Oyj by 98.3% in the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after buying an additional 867,297 shares during the period. Bank of Montreal Can purchased a new stake in shares of Nokia Oyj in the second quarter worth approximately $2,501,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Nokia Oyj in the second quarter worth approximately $1,240,000. Institutional investors own 5.28% of the company’s stock.

About Nokia Oyj

(Get Free Report)

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.

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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