Nokia Corporation (NYSE:NOK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nokia Corporation (NYSE:NOK) have been assigned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.5671.

A number of brokerages recently issued reports on NOK. Arete Research raised shares of Nokia from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group raised shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Friday, May 15th.

Nokia Stock Up 1.7%

Shares of NOK opened at $9.25 on Thursday. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 1.04 and a beta of 1.17. Nokia has a 52 week low of $4.00 and a 52 week high of $17.45. The stock’s 50-day moving average price is $13.28 and its 200-day moving average price is $10.31. The company has a quick ratio of 1.22, a current ratio of 1.50 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, sell-side analysts predict that Nokia will post 0.41 EPS for the current year.

Institutional Trading of Nokia

Institutional investors and hedge funds have recently made changes to their positions in the business. Amundi purchased a new position in shares of Nokia during the 1st quarter valued at approximately $776,000. AQR Capital Management LLC increased its holdings in Nokia by 27.5% in the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after acquiring an additional 40,276 shares in the last quarter. Millennium Management LLC raised its position in Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock worth $14,975,000 after acquiring an additional 2,798,758 shares during the period. NewEdge Advisors LLC lifted its holdings in Nokia by 6,204.9% during the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock valued at $319,000 after purchasing an additional 59,505 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock valued at $66,140,000 after purchasing an additional 1,002,033 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Company Profile

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.