Nokia Oyj (NYSE:NOK) Raised to “Strong-Buy” at StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

NOK has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded shares of Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research note on Friday, October 18th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Nokia Oyj presently has a consensus rating of “Moderate Buy” and an average target price of $5.42.

Nokia Oyj Stock Up 1.1 %

Shares of NYSE:NOK opened at $4.48 on Friday. The stock has a market capitalization of $24.43 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 5.71 and a beta of 1.08. The stock’s 50-day moving average price is $4.46 and its 200-day moving average price is $4.16. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 12-month low of $3.20 and a 12-month high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The business had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. On average, equities analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC grew its stake in Nokia Oyj by 38.4% in the first quarter. Cetera Advisors LLC now owns 30,581 shares of the technology company’s stock worth $108,000 after purchasing an additional 8,484 shares during the period. CWM LLC grew its position in shares of Nokia Oyj by 42.2% in the 2nd quarter. CWM LLC now owns 24,948 shares of the technology company’s stock worth $94,000 after buying an additional 7,406 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Nokia Oyj in the 2nd quarter worth about $42,000. Blue Trust Inc. lifted its position in Nokia Oyj by 49.0% during the 2nd quarter. Blue Trust Inc. now owns 14,676 shares of the technology company’s stock valued at $52,000 after acquiring an additional 4,829 shares during the period. Finally, Capital Investment Counsel Inc boosted its stake in Nokia Oyj by 14.0% during the second quarter. Capital Investment Counsel Inc now owns 29,777 shares of the technology company’s stock worth $113,000 after acquiring an additional 3,650 shares in the last quarter. Hedge funds and other institutional investors own 5.28% 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. 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.