Nokia (NYSE:NOK) Stock Rating Upgraded by BNP Paribas Exane

Nokia (NYSE:NOK) was upgraded by research analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $5.00 price target on the technology company’s stock. BNP Paribas Exane’s price target would suggest a potential upside of 8.81% from the company’s current price.

NOK has been the topic of a number of other research reports. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price objective 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. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.52.

Nokia Stock Up 4.9%

Shares of NYSE:NOK opened at $4.60 on Wednesday. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 22.98 and a beta of 0.90. The firm’s 50-day simple moving average is $4.50 and its 200-day simple moving average is $4.92. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. Nokia has a fifty-two week low of $3.91 and a fifty-two week high of $5.48.

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

Institutional Trading of Nokia

Institutional investors and hedge funds have recently modified their holdings of the business. TCW Group Inc. purchased a new stake in shares of Nokia in the first quarter valued at about $425,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nokia by 18.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock valued at $2,471,000 after purchasing an additional 74,072 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Nokia in the first quarter valued at about $641,000. Diversify Wealth Management LLC purchased a new stake in shares of Nokia in the first quarter valued at about $910,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Nokia by 41.0% in the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company’s stock valued at $19,540,000 after purchasing an additional 1,078,476 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.