Nokia Corporation (NOK) – What Are Investment Firms Saying About This Stock?

Nokia Corporation (NYSE:NOK) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.41.

Several analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Nokia in a research note on Tuesday, September 29th. S&P Equity Research restated a “positive” rating on shares of Nokia in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Monday, July 27th. Finally, B. Riley Financial initiated coverage on shares of Nokia in a research note on Thursday, September 17th. They set a “buy” rating and a $15.00 price objective for the company.

Nokia Price Performance

Nokia stock opened at $8.24 on Friday. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 51.52, a PEG ratio of 1.39 and a beta of 1.24. The business’s 50 day simple moving average is $9.86 and its 200 day simple moving average is $10.26. Nokia has a 12 month low of $5.86 and a 12 month high of $17.45. The company has a current ratio of 1.47, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Nokia will post 0.39 EPS for the current year.

Institutional Trading of Nokia

Several large investors have recently made changes to their positions in NOK. ARGA Investment Management LP lifted its holdings in shares of Nokia by 364.5% during the 3rd quarter. ARGA Investment Management LP now owns 21,815,690 shares of the technology company’s stock worth $221,211,000 after acquiring an additional 17,119,411 shares during the period. Renaissance Technologies LLC grew its holdings in Nokia by 131.3% in the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock valued at $106,890,000 after purchasing an additional 7,546,000 shares during the period. Annex Advisory Services LLC grew its holdings in Nokia by 1,710.9% in the third quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock valued at $45,309,000 after purchasing an additional 4,221,629 shares during the period. Troluce Capital Advisors LLC acquired a new position in Nokia during the first quarter worth approximately $20,100,000. Finally, Atreides Management LP acquired a new position in Nokia during the first quarter worth approximately $19,955,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nokia

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.