Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nokia Corporation (NYSE:NOK) have earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.5671.

A number of equities research analysts have issued reports on NOK shares. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research report on Monday, April 13th. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Friday, April 24th. Barclays reiterated an “underweight” rating on shares of Nokia in a report on Wednesday, April 29th. Finally, Arete Research upgraded shares of Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th.

Nokia Stock Performance

NYSE NOK opened at $10.29 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. Nokia has a twelve month low of $4.00 and a twelve month high of $17.45. The business has a 50-day moving average price of $13.56 and a 200-day moving average price of $10.25. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 64.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17.

Nokia (NYSE:NOK) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The company had revenue of $5.21 billion for the quarter. As a group, equities research analysts predict that Nokia will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi purchased a new position in Nokia during the 1st quarter valued at approximately $776,000. AQR Capital Management LLC boosted its position in shares of Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock valued at $985,000 after acquiring an additional 40,276 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after purchasing an additional 2,798,758 shares in the last quarter. NewEdge Advisors LLC raised its stake in Nokia by 6,204.9% during the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.