Nokia Oyj (NYSE:NOK) Downgraded to Buy at StockNews.com

Nokia Oyj (NYSE:NOK) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Separately, Northland Securities restated an “outperform” rating and set a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.54.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $4.27 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $4.04 and its two-hundred day simple moving average is $3.82. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.52. The stock has a market cap of $23.58 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 5.13 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share for the quarter, beating 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. As a group, analysts forecast that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its position in shares of Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after purchasing an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nokia Oyj during the 1st quarter valued at $35,000. Checchi Capital Advisers LLC purchased a new stake in Nokia Oyj in the 1st quarter worth about $35,000. Peapack Gladstone Financial Corp purchased a new stake in Nokia Oyj in the 4th quarter worth about $35,000. Finally, Simplicity Wealth LLC purchased a new stake in Nokia Oyj in the 2nd quarter worth about $39,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

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.