Nokia Corporation (NYSE:NOK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nokia Corporation (NYSE:NOK) has earned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.71.

A number of research firms have recently weighed in on NOK. Arete Research raised Nokia from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, April 13th. Barclays reissued an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research note on Friday, May 22nd.

Nokia Trading Down 0.3%

Shares of NOK stock opened at $14.34 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $12.11 and a two-hundred day moving average price of $8.75. Nokia has a 12-month low of $4.00 and a 12-month high of $17.45. The firm has a market cap of $82.32 billion, a P/E ratio of 89.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Nokia (NYSE:NOK) last issued its quarterly 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 firm had revenue of $5.21 billion during the quarter. Equities analysts anticipate that Nokia will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of hedge funds and other institutional investors have recently modified their holdings of NOK. J2 Capital Management Inc raised its position in Nokia by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after purchasing an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Nokia by 6.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after purchasing an additional 1,450 shares during the last quarter. Kathmere Capital Management LLC raised its position in Nokia by 14.0% during the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,483 shares during the last quarter. Xponance LLC raised its position in Nokia by 13.0% during the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock valued at $88,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Assetmark Inc. raised its position in Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock valued at $118,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors own 5.28% of the company’s stock.

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.