Nokia Corporation (NYSE:NOK) Receives $5.32 Consensus Target Price from Analysts

Shares of Nokia Corporation (NYSE:NOK) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.8667.

A number of brokerages have weighed in on NOK. JPMorgan Chase & Co. lifted their price target on shares of Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Saturday. Northland Securities set a $7.50 price target on Nokia in a research note on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research report on Wednesday, October 15th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Nokia in a research report on Thursday.

Institutional Investors Weigh In On Nokia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthquest Corp bought a new stake in Nokia during the 1st quarter worth about $27,000. Harbour Investments Inc. raised its holdings in Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company’s stock worth $27,000 after acquiring an additional 5,003 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Nokia during the second quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its stake in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company’s stock valued at $38,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Nokia by 763.7% during the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company’s stock worth $43,000 after purchasing an additional 7,286 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Performance

NOK stock opened at $6.30 on Tuesday. Nokia has a 1-year low of $3.91 and a 1-year high of $6.34. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market cap of $33.87 billion, a PE ratio of 34.97 and a beta of 0.85. The business’s 50-day moving average price is $4.83 and its two-hundred day moving average price is $4.91.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Nokia will post 0.34 earnings per share for the current year.

Nokia 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.