Nokia Corporation (NYSE:NOK) Receives $5.87 Consensus PT from Analysts

Nokia Corporation (NYSE:NOK) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.8667.

Several research analysts have weighed in on NOK shares. UBS Group reiterated a “neutral” rating on shares of Nokia in a research report on Tuesday, October 28th. Northland Securities set a $7.50 price target on shares of Nokia in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Finally, Santander cut shares of Nokia to a “neutral” rating in a report on Wednesday, October 29th.

Nokia Stock Down 1.0%

Nokia stock opened at $6.67 on Friday. The company’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $5.12. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a market cap of $35.86 billion, a P/E ratio of 37.03 and a beta of 0.84. Nokia has a twelve month low of $3.91 and a twelve month high of $8.19.

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

Institutional Trading of Nokia

Institutional investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership increased its position in shares of Nokia by 1.8% in the second quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock worth $560,150,000 after purchasing an additional 1,957,524 shares during the period. Pzena Investment Management LLC grew its stake in Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after buying an additional 11,667,677 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Nokia by 50.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after buying an additional 14,482,665 shares during the period. Folketrygdfondet raised its position in shares of Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock valued at $83,600,000 after buying an additional 6,950,487 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after acquiring an additional 12,619,099 shares during the period. 5.28% of the stock is currently owned by institutional investors.

About Nokia

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.