Nokia Oyj (NYSE:NOK) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Nokia Oyj (NYSE:NOK) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued research reports about the stock. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $4.35 to $6.35 in a research note on Monday, December 9th. Craig Hallum upgraded Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities restated an “outperform” rating and set a $6.50 price objective on shares of Nokia Oyj in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.43.

Nokia Oyj Trading Up 0.2 %

Shares of NYSE:NOK opened at $4.48 on Wednesday. The business’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $4.20. Nokia Oyj has a 1 year low of $3.29 and a 1 year high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The company has a market capitalization of $24.43 billion, a P/E ratio of 56.00, a P/E/G ratio of 5.80 and a beta of 1.08.

Nokia Oyj (NYSE:NOK) last released 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. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. On average, research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOK. GAMMA Investing LLC boosted its holdings in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after acquiring an additional 3,427 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Nokia Oyj during the second quarter valued at about $40,000. Pinnacle Associates Ltd. bought a new stake in shares of Nokia Oyj during the third quarter worth about $44,000. Alternative Investment Advisors LLC. acquired a new position in shares of Nokia Oyj in the second quarter valued at approximately $45,000. Finally, JGP Wealth Management LLC bought a new position in Nokia Oyj in the 3rd quarter valued at approximately $45,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.