StockNews.com Upgrades Nokia Oyj (NYSE:NOK) to Strong-Buy

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a report published on Tuesday.

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

Nokia Oyj Price Performance

Shares of Nokia Oyj stock opened at $4.34 on Tuesday. The stock has a market capitalization of $23.97 billion, a P/E ratio of 27.13, a PEG ratio of 5.27 and a beta of 1.12. The business has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $3.86. Nokia Oyj has a 12 month low of $2.94 and a 12 month high of $4.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC raised its stake in Nokia Oyj by 22.3% during the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after purchasing an additional 15,035,360 shares during the period. Sei Investments Co. raised its position in shares of Nokia Oyj by 1.5% during the 1st quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock valued at $9,467,000 after buying an additional 40,264 shares during the period. TSP Capital Management Group LLC lifted its holdings in Nokia Oyj by 89.2% in the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock valued at $7,715,000 after acquiring an additional 1,027,600 shares during the last quarter. Russell Investments Group Ltd. grew its position in Nokia Oyj by 98.3% in the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock worth $6,193,000 after acquiring an additional 867,297 shares during the period. Finally, Susquehanna International Securities Ltd. increased its stake in Nokia Oyj by 13.9% during the first quarter. Susquehanna International Securities Ltd. now owns 1,636,996 shares of the technology company’s stock worth $5,795,000 after acquiring an additional 199,590 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Oyj 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.