Nokia Oyj (NYSE:NOK) Stock Rating Lowered by StockNews.com

Nokia Oyj (NYSE:NOKGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

NOK has been the subject of several other reports. UBS Group dropped their target price on shares of Nokia Oyj from €6.20 ($6.53) to €5.80 ($6.11) and set a “buy” rating for the company in a report on Friday, April 29th. TheStreet downgraded shares of Nokia Oyj from a “b-” rating to a “c” rating in a report on Thursday, April 28th. 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 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 report on Monday, February 7th. Finally, Societe Generale dropped their target price on shares of Nokia Oyj from €6.70 ($7.05) to €6.10 ($6.42) and set a “buy” rating for the company in a report on Friday, April 29th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.95.

Shares of NOK opened at $4.96 on Friday. The company has a 50-day simple moving average of $5.20 and a 200-day simple moving average of $5.60. The company has a quick ratio of 1.42, a current ratio of 1.58 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $27.95 billion, a PE ratio of 15.50, a P/E/G ratio of 1.17 and a beta of 0.81. Nokia Oyj has a 52-week low of $4.51 and a 52-week high of $6.40.

Nokia Oyj (NYSE:NOKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 7.01% and a return on equity of 12.81%. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Nokia Oyj will post 0.43 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Quarterback LLC boosted its position in shares of Nokia Oyj by 25.8% in the third quarter. Wealth Quarterback LLC now owns 8,860 shares of the technology company’s stock worth $40,000 after acquiring an additional 1,816 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Nokia Oyj by 1.4% in the third quarter. Rockefeller Capital Management L.P. now owns 135,256 shares of the technology company’s stock worth $737,000 after acquiring an additional 1,849 shares during the last quarter. Clean Yield Group boosted its position in shares of Nokia Oyj by 0.4% in the fourth quarter. Clean Yield Group now owns 527,740 shares of the technology company’s stock worth $3,283,000 after acquiring an additional 1,860 shares during the last quarter. Truist Financial Corp boosted its position in shares of Nokia Oyj by 2.4% in the third quarter. Truist Financial Corp now owns 80,006 shares of the technology company’s stock worth $436,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Nokia Oyj by 19.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,236 shares of the technology company’s stock worth $65,000 after acquiring an additional 1,983 shares during the last quarter. 16.25% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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