Nokia Oyj (NYSE:NOK) Receives $5.97 Consensus PT from Analysts

Nokia Oyj (NYSE:NOK) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $5.97.

Several research firms have recently weighed in on NOK. Raymond James decreased their price target on shares of Nokia Oyj from $6.00 to $4.50 and set an “outperform” rating for the company in a research note on Friday, October 20th. The Goldman Sachs Group dropped their price target on Nokia Oyj from $5.90 to $5.10 and set a “buy” rating on the stock in a research report on Friday, October 20th. StockNews.com assumed coverage on Nokia Oyj in a report on Thursday, October 5th. They issued a “hold” rating for the company. DNB Markets upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Finally, Northland Securities reduced their price target on shares of Nokia Oyj from $7.00 to $6.00 in a report on Monday, July 17th.

Nokia Oyj Price Performance

NOK opened at $3.46 on Friday. The business has a fifty day moving average of $3.68 and a 200 day moving average of $3.91. The stock has a market cap of $19.49 billion, a P/E ratio of 4.94 and a beta of 1.02. The company has a quick ratio of 1.35, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. Nokia Oyj has a 52-week low of $3.05 and a 52-week high of $5.11.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, October 19th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Nokia Oyj had a net margin of 15.62% and a return on equity of 9.08%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Nokia Oyj will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of Nokia Oyj by 55.0% during the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after acquiring an additional 9,842,934 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Nokia Oyj by 35.1% during the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after buying an additional 7,419,900 shares during the last quarter. BlackRock Inc. increased its position in shares of Nokia Oyj by 93.1% in the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock valued at $54,203,000 after acquiring an additional 5,321,714 shares during the period. Artisan Partners Limited Partnership lifted its position in Nokia Oyj by 6.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 87,523,124 shares of the technology company’s stock worth $429,739,000 after acquiring an additional 5,296,106 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in Nokia Oyj by 251.9% during the 1st quarter. Balyasny Asset Management L.P. now owns 5,876,865 shares of the technology company’s stock valued at $28,855,000 after purchasing an additional 4,206,922 shares during the last quarter. Hedge funds and other institutional investors own 5.26% of the company’s stock.

Nokia Oyj Company Profile

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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.