Nokia Corporation (NYSE:NOK) Receives Average Rating of “Moderate Buy” from Brokerages

Nokia Corporation (NYSE:NOK) has earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $5.7750.

A number of analysts have recently weighed in on NOK shares. JPMorgan Chase & Co. reduced their target price on shares of Nokia from $6.50 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st.

Nokia Stock Performance

Nokia stock opened at $4.30 on Monday. The company’s 50-day moving average price is $4.57 and its 200-day moving average price is $4.94. Nokia has a twelve month low of $3.91 and a twelve month high of $5.48. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The company has a market cap of $23.11 billion, a PE ratio of 21.48 and a beta of 0.90.

Nokia (NYSE:NOK) last posted its earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Nokia will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia

A number of large investors have recently made changes to their positions in NOK. Artisan Partners Limited Partnership boosted its position in Nokia by 1.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after buying an additional 1,957,524 shares during the period. Goldman Sachs Group Inc. boosted its position in Nokia by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after buying an additional 1,002,033 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Nokia in the 4th quarter valued at about $53,481,000. Woodline Partners LP boosted its position in Nokia by 125.4% in the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company’s stock valued at $53,162,000 after buying an additional 6,677,017 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Nokia in the 1st quarter valued at about $45,207,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia 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.