Nokia Oyj (NYSE:NOK – Get Free Report) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.
Separately, Northland Securities reiterated an “outperform” rating and set a $6.50 price target (up previously from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj has a consensus rating of “Hold” and a consensus target price of $4.54.
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a return on equity of 7.98% and a net margin of 1.95%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $5.12 billion. On average, sell-side analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings in Nokia Oyj by 29.0% during the 1st quarter. Pzena Investment Management LLC now owns 67,489,193 shares of the technology company’s stock valued at $238,912,000 after acquiring an additional 15,175,751 shares during the period. TSP Capital Management Group LLC boosted its stake in shares of Nokia Oyj by 89.2% in the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock valued at $7,715,000 after purchasing an additional 1,027,600 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Nokia Oyj by 98.3% in the first quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after purchasing an additional 867,297 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Nokia Oyj in the second quarter valued at approximately $2,501,000. Finally, Maverick Capital Ltd. purchased a new stake in Nokia Oyj during the 2nd quarter worth approximately $1,240,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.
Nokia Oyj 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.
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