Nokia Oyj (NYSE:NOK) Receives Consensus Rating of “Hold” from Analysts

Shares of Nokia Oyj (NYSE:NOK) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.94.

NOK has been the subject of several research analyst reports. Santander raised Nokia Oyj from an “underweight” rating to a “buy” rating in a research note on Monday, July 1st. Zacks Investment Research raised IQE from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. ValuEngine downgraded Willdan Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Goldman Sachs Group set a GBX 4,300 ($56.19) price target on ASOS and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Canaccord Genuity set a $107.00 price target on Columbia Sportswear and gave the stock a “hold” rating in a research report on Friday, April 26th.

Shares of NOK traded up $0.04 during mid-day trading on Friday, hitting $5.10. The company’s stock had a trading volume of 794,599 shares, compared to its average volume of 14,318,544. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.31 and a quick ratio of 1.05. The business has a 50-day moving average of $5.05. The stock has a market capitalization of $28.68 billion, a price-to-earnings ratio of 18.89 and a beta of 0.25. Nokia Oyj has a 1-year low of $4.71 and a 1-year high of $6.65.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, April 25th. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nokia Oyj had a negative net margin of 2.65% and a positive return on equity of 6.97%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Nokia Oyj will post 0.24 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in NOK. LPL Financial LLC grew its position in shares of Nokia Oyj by 48.1% in the fourth quarter. LPL Financial LLC now owns 102,086 shares of the technology company’s stock valued at $594,000 after purchasing an additional 33,153 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Nokia Oyj by 7.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 164,810 shares of the technology company’s stock valued at $959,000 after acquiring an additional 11,946 shares during the last quarter. BlackRock Inc. boosted its holdings in Nokia Oyj by 889.9% in the fourth quarter. BlackRock Inc. now owns 360,186 shares of the technology company’s stock valued at $2,096,000 after acquiring an additional 323,801 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Nokia Oyj by 3,408.1% in the fourth quarter. Bank of New York Mellon Corp now owns 4,177,677 shares of the technology company’s stock valued at $24,314,000 after acquiring an additional 4,058,589 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Nokia Oyj by 65.1% in the fourth quarter. Raymond James & Associates now owns 299,798 shares of the technology company’s stock valued at $1,745,000 after acquiring an additional 118,225 shares during the last quarter. 7.70% of the stock is owned by institutional investors and hedge funds.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

Featured Article: How is Preferred Stock Different from Common Stock?

Analyst Recommendations for Nokia Oyj (NYSE:NOK)

Receive News & Ratings for Nokia Oyj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Oyj and related companies with MarketBeat.com's FREE daily email newsletter.