Nokia Oyj (NYSE:NOK) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $5.00 price target on the technology company’s stock, up from their previous price target of $4.89. Credit Suisse Group’s price target would indicate a potential upside of 3.03% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. BNP Paribas cut Nokia Oyj from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $5.00 to $3.90 in a report on Monday, December 4th. Argus cut Nokia Oyj from a “buy” rating to a “hold” rating and lifted their price objective for the company from $4.76 to $4.91 in a report on Monday, October 30th. Canaccord Genuity dropped their price objective on Nokia Oyj from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Oyj in a report on Friday, October 27th. Finally, Vetr raised Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.37 price objective for the company in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Nokia Oyj currently has a consensus rating of “Hold” and a consensus target price of $5.51.
Shares of Nokia Oyj (NYSE:NOK) traded down $0.04 during midday trading on Friday, reaching $4.85. The company’s stock had a trading volume of 2,201,339 shares, compared to its average volume of 10,045,267. The firm has a market cap of $28,100.00, a PE ratio of -53.92, a PEG ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.59 and a quick ratio of 1.33. Nokia Oyj has a 52-week low of $4.50 and a 52-week high of $6.65.
Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Nokia Oyj had a positive return on equity of 9.88% and a negative net margin of 2.09%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. equities research analysts expect that Nokia Oyj will post 0.33 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Teachers Advisors LLC increased its stake in shares of Nokia Oyj by 53.3% in the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after purchasing an additional 2,414,440 shares during the last quarter. TCW Group Inc. increased its stake in shares of Nokia Oyj by 30.8% in the 3rd quarter. TCW Group Inc. now owns 6,074,746 shares of the technology company’s stock valued at $36,327,000 after purchasing an additional 1,429,672 shares during the last quarter. Northern Trust Corp increased its stake in shares of Nokia Oyj by 0.6% in the 2nd quarter. Northern Trust Corp now owns 5,811,715 shares of the technology company’s stock valued at $35,801,000 after purchasing an additional 34,906 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Nokia Oyj by 17.2% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 4,016,291 shares of the technology company’s stock valued at $24,017,000 after purchasing an additional 589,445 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Nokia Oyj by 705.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,328,880 shares of the technology company’s stock valued at $20,506,000 after purchasing an additional 2,915,600 shares during the last quarter. Institutional investors own 5.83% of the company’s stock.
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Nokia Oyj Company Profile
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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