Nokia Oyj (NYSE:NOK) Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Separately, Northland Securities reiterated an outperform rating and issued a $6.50 price objective (up previously from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj has a consensus rating of Hold and a consensus price target of $4.54.

Nokia Oyj Stock Up 0.7 %

Shares of Nokia Oyj stock opened at $4.28 on Thursday. The company has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.82. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.52. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 5.13 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. Equities research analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its stake in Nokia Oyj by 48.2% during the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Nokia Oyj in the first quarter worth about $35,000. Checchi Capital Advisers LLC bought a new position in Nokia Oyj in the first quarter worth about $35,000. Peapack Gladstone Financial Corp bought a new position in shares of Nokia Oyj during the fourth quarter valued at approximately $35,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Nokia Oyj during the 2nd quarter worth approximately $39,000. Institutional investors own 5.28% of the company’s stock.

About Nokia Oyj

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.