Brokerages Set Nokia Oyj (NYSE:NOK) Target Price at $6.43

Shares of Nokia Oyj (NYSE:NOK) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.43.

Several brokerages recently weighed in on NOK. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Nokia Oyj from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 25th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $4.35 to $6.35 in a research report on Monday, December 9th.

Nokia Oyj Stock Performance

NYSE NOK opened at $4.43 on Wednesday. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95. The firm has a market capitalization of $24.15 billion, a P/E ratio of 55.38, a price-to-earnings-growth ratio of 5.80 and a beta of 1.08. The stock’s fifty day moving average is $4.45 and its two-hundred day moving average is $4.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 1.72.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. On average, research analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in Nokia Oyj by 67.0% in the 3rd 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 during the period. Arkadios Wealth Advisors purchased a new stake in Nokia Oyj during the 2nd quarter worth about $40,000. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj in the 3rd quarter valued at about $44,000. Alternative Investment Advisors LLC. purchased a new position in shares of Nokia Oyj in the 2nd quarter valued at about $45,000. Finally, JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj during the third quarter worth about $45,000. Institutional investors and hedge funds 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.