Nokia Oyj (NYSE:NOK – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
A number of other research firms have also commented on NOK. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. reduced their price objective on shares of Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, BNP Paribas assumed coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.42.
View Our Latest Stock Analysis on NOK
Nokia Oyj Price Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Nokia Oyj had a return on equity of 8.40% and a net margin of 3.90%. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period in the prior year, the business posted $0.16 earnings per share. Equities analysts forecast that Nokia Oyj will post 0.38 EPS for the current year.
Institutional Investors Weigh In On Nokia Oyj
Hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its holdings in Nokia Oyj by 13,524.2% in the 3rd quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock valued at $160,039,000 after buying an additional 42,477,173 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Nokia Oyj by 10.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after buying an additional 9,908,461 shares during the last quarter. Millennium Management LLC raised its holdings in Nokia Oyj by 55.0% in the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after buying an additional 9,842,934 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Nokia Oyj by 35.1% in the 1st 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. Finally, BlackRock Inc. raised its holdings in Nokia Oyj by 93.1% during the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock worth $54,203,000 after purchasing an additional 5,321,714 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.
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. 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.
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