Nokia Oyj (NYSE:NOK) Rating Increased to Buy at Danske

Nokia Oyj (NYSE:NOK) was upgraded by investment analysts at Danske from a “hold” rating to a “buy” rating in a research report issued on Friday, Briefing.com reports.

A number of other equities analysts have also weighed in on NOK. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research note on Friday. StockNews.com cut shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Price Performance

NYSE:NOK traded up $0.39 during mid-day trading on Friday, reaching $4.73. The stock had a trading volume of 32,014,789 shares, compared to its average volume of 15,386,148. Nokia Oyj has a one year low of $2.94 and a one year high of $4.75. The firm has a 50 day moving average price of $4.26 and a two-hundred day moving average price of $3.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.57 and a current ratio of 1.82. The stock has a market capitalization of $26.12 billion, a P/E ratio of 29.63, a P/E/G ratio of 5.47 and a beta of 1.12.

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

Institutional Investors Weigh In On Nokia Oyj

Several hedge funds have recently modified their holdings of NOK. Maverick Capital Ltd. purchased a new position in shares of Nokia Oyj during the 2nd quarter valued at approximately $1,240,000. PDS Planning Inc boosted its stake in Nokia Oyj by 46.8% during the 1st quarter. PDS Planning Inc now owns 33,943 shares of the technology company’s stock worth $120,000 after purchasing an additional 10,815 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of Nokia Oyj by 10.3% during the first quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock worth $111,000 after buying an additional 2,932 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Nokia Oyj by 98.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after acquiring an additional 867,297 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Nokia Oyj by 62.3% in the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock valued at $63,000 after acquiring an additional 6,768 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

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.