Nokia Oyj (NYSE:NOK) Upgraded by StockNews.com to “Buy”

Nokia Oyj (NYSE:NOK – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other analysts have also issued reports on NOK. Raymond James lowered their price target on Nokia Oyj from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, April 21st. UBS Group lowered Nokia Oyj from a “buy” rating to a “neutral” rating in a report on Tuesday, January 31st. Finally, TheStreet upgraded Nokia Oyj from a “c+” rating to a “b-” rating in a report on Wednesday, March 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and an average target price of $5.73.

Nokia Oyj Stock Down 2.2 %

Shares of NYSE:NOK opened at $3.94 on Thursday. Nokia Oyj has a 1 year low of $3.93 and a 1 year high of $5.28. The business has a 50 day simple moving average of $4.42 and a two-hundred day simple moving average of $4.63. The firm has a market capitalization of $22.19 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 5.26 and a beta of 0.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.55 and a quick ratio of 1.28.

Nokia Oyj (NYSE:NOK – Get Rating) last announced its earnings results on Wednesday, April 19th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nokia Oyj had a net margin of 16.78% and a return on equity of 11.57%. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter last year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts predict that Nokia Oyj will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Nokia Oyj

Several hedge funds have recently made changes to their positions in the company. Ronald Blue Trust Inc. increased its holdings in Nokia Oyj by 10.5% in the 1st quarter. Ronald Blue Trust Inc. now owns 22,450 shares of the technology company’s stock valued at $104,000 after purchasing an additional 2,130 shares during the last quarter. Alterna Wealth Management Inc. lifted its position in shares of Nokia Oyj by 5.5% during the 3rd quarter. Alterna Wealth Management Inc. now owns 43,190 shares of the technology company’s stock worth $184,000 after purchasing an additional 2,268 shares during the last quarter. AE Wealth Management LLC lifted its position in Nokia Oyj by 4.7% in the fourth quarter. AE Wealth Management LLC now owns 52,064 shares of the technology company’s stock valued at $242,000 after acquiring an additional 2,333 shares during the last quarter. Franklin Resources Inc. lifted its position in Nokia Oyj by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock valued at $222,000 after acquiring an additional 2,444 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in Nokia Oyj by 7.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 36,608 shares of the technology company’s stock valued at $180,000 after purchasing an additional 2,608 shares during the period. 7.57% of the stock is owned by institutional investors and hedge funds.

About Nokia Oyj

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Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The Mobile Networks segment offers technologies for Radio Access Networks (RAN) as well as Microwave Radio Links (MWR) for transport networks.