Nokia Corporation (NYSE:NOK) Given Consensus Rating of “Moderate Buy” by Brokerages

Nokia Corporation (NYSE:NOK) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.0957.

NOK has been the subject of a number of recent research reports. Jefferies Financial Group raised Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nokia in a research report on Monday, December 1st. BNP Paribas raised shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Nokia from $7.10 to $8.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd.

Hedge Funds Weigh In On Nokia

A number of hedge funds have recently made changes to their positions in the stock. Wexford Capital LP acquired a new position in shares of Nokia in the third quarter worth approximately $29,000. FNY Investment Advisers LLC bought a new position in Nokia during the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nokia in the 3rd quarter worth approximately $34,000. First Horizon Advisors Inc. boosted its stake in shares of Nokia by 677.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company’s stock valued at $44,000 after purchasing an additional 7,394 shares during the last quarter. Finally, Eagle Strategies LLC acquired a new stake in shares of Nokia during the second quarter worth $52,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Price Performance

Shares of NYSE:NOK opened at $6.19 on Wednesday. Nokia has a one year low of $4.00 and a one year high of $8.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.48 and a quick ratio of 1.23. The company has a market cap of $34.49 billion, a price-to-earnings ratio of 34.36 and a beta of 0.77. The firm has a 50 day simple moving average of $6.13 and a 200 day simple moving average of $5.23.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.24%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that Nokia will post 0.34 earnings per share for the current fiscal year.

About Nokia

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.