JPMorgan Chase & Co. Lowers Nokia Oyj (NYSE:NOK) Price Target to $4.26

Nokia Oyj (NYSE:NOK) had its target price reduced by JPMorgan Chase & Co. from $4.39 to $4.26 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently commented on NOK. The Goldman Sachs Group cut Nokia Oyj from a buy rating to a neutral rating and lowered their price target for the stock from $5.10 to $3.40 in a report on Monday, December 18th. BNP Paribas assumed coverage on Nokia Oyj in a report on Friday, January 12th. They set a neutral rating for the company. Finally, Barclays cut Nokia Oyj from an equal weight rating to an underweight rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nokia Oyj presently has an average rating of Hold and a consensus target price of $4.42.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $3.33 on Tuesday. The stock has a market capitalization of $18.73 billion, a PE ratio of 27.71, a P/E/G ratio of 0.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The business has a fifty day moving average price of $3.54 and a two-hundred day moving average price of $3.47. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.87.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, equities analysts predict that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

A number of hedge funds and other institutional investors have recently bought and sold shares of NOK. Banque Cantonale Vaudoise grew its position in Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after acquiring an additional 3,000 shares during the last quarter. Capital Management Associates Inc bought a new stake in Nokia Oyj during the 4th quarter worth $34,000. Tieton Capital Management LLC bought a new stake in Nokia Oyj during the 4th quarter worth $34,000. Advisors Asset Management Inc. bought a new stake in Nokia Oyj during the 4th quarter worth $34,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Nokia Oyj during the 4th quarter worth $35,000. Institutional investors 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.