Nokia Oyj (NYSE:NOK) Rating Increased to Strong-Buy at StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued research reports about the company. Northland Securities restated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.35 to $6.35 in a research note on Monday. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Nokia Oyj Stock Up 1.0 %

NOK stock traded up $0.04 during mid-day trading on Friday, reaching $4.48. 12,380,496 shares of the company traded hands, compared to its average volume of 15,982,729. The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $4.46 and its 200 day moving average price is $4.15. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 5.71 and a beta of 1.08. Nokia Oyj has a fifty-two week low of $3.20 and a fifty-two week high of $4.95.

Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to analyst estimates of $5.10 billion. As a group, equities research analysts predict that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia Oyj

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in shares of Nokia Oyj by 10.0% during the third quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company’s stock valued at $396,735,000 after purchasing an additional 8,261,407 shares during the period. FMR LLC lifted its stake in shares of Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock worth $133,273,000 after buying an additional 27,755,460 shares in the last quarter. American Century Companies Inc. lifted its position in Nokia Oyj by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 1,001,777 shares of the technology company’s stock valued at $3,787,000 after acquiring an additional 96,144 shares in the last quarter. Waterfront Wealth Inc. boosted its position in shares of Nokia Oyj by 10.3% during the second quarter. Waterfront Wealth Inc. now owns 761,780 shares of the technology company’s stock valued at $2,880,000 after buying an additional 71,022 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Nokia Oyj in the second quarter worth approximately $2,501,000. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.