StockNews.com Lowers Nokia Oyj (NYSE:NOK) to Hold

StockNews.com downgraded shares of Nokia Oyj (NYSE:NOKGet Rating) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities analysts also recently issued research reports about the stock. TheStreet upgraded shares of Nokia Oyj from a c rating to a b- rating in a research note on Tuesday, February 8th. Jefferies Financial Group assumed coverage on shares of Nokia Oyj in a research report on Thursday, March 17th. They set a buy rating for the company. Raymond James upgraded shares of Nokia Oyj from a market perform rating to an outperform rating and set a $6.50 target price for the company in a research report on Monday, March 14th. Zacks Investment Research upgraded shares of Nokia Oyj from a sell rating to a hold rating and set a $7.00 target price for the company in a research report on Monday, February 7th. Finally, Morgan Stanley assumed coverage on shares of Nokia Oyj in a research report on Monday, December 20th. They set an overweight rating and a $7.50 target price for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Nokia Oyj currently has a consensus rating of Buy and an average price target of $7.20.

NOK opened at $5.37 on Friday. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.23 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $5.39 and a 200-day moving average price of $5.67. Nokia Oyj has a twelve month low of $4.06 and a twelve month high of $6.40.

Nokia Oyj (NYSE:NOKGet Rating) last posted its earnings results on Thursday, February 3rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.48 billion. Nokia Oyj had a net margin of 7.27% and a return on equity of 13.43%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. On average, sell-side analysts expect that Nokia Oyj will post 0.42 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of NOK. Renaissance Technologies LLC increased its stake in shares of Nokia Oyj by 568.4% in the fourth quarter. Renaissance Technologies LLC now owns 23,189,380 shares of the technology company’s stock worth $144,238,000 after buying an additional 19,720,000 shares during the period. Capital International Investors purchased a new position in shares of Nokia Oyj in the fourth quarter worth $52,361,000. Stonegate Investment Group LLC purchased a new position in shares of Nokia Oyj in the fourth quarter worth $35,134,000. Bank of New York Mellon Corp increased its stake in shares of Nokia Oyj by 23.2% in the third quarter. Bank of New York Mellon Corp now owns 25,293,502 shares of the technology company’s stock worth $137,850,000 after buying an additional 4,763,963 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Nokia Oyj by 125.9% in the fourth quarter. Point72 Asset Management L.P. now owns 5,945,700 shares of the technology company’s stock worth $36,982,000 after buying an additional 3,314,200 shares during the period. 14.65% of the stock is currently owned by institutional investors.

Nokia Oyj Company Profile (Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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