Nokia Oyj (NYSE:NOK) Price Target Lowered to $4.26 at JPMorgan Chase & Co.

Nokia Oyj (NYSE:NOK) had its price objective decreased by JPMorgan Chase & Co. from $4.39 to $4.26 in a report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on NOK. BNP Paribas assumed coverage on Nokia Oyj in a research note on Friday, January 12th. They set a neutral rating for the company. Barclays downgraded Nokia Oyj from an equal weight rating to an underweight rating in a research note on Friday, January 19th. Finally, The Goldman Sachs Group downgraded Nokia Oyj from a buy rating to a neutral rating and cut their target price for the stock from $5.10 to $3.40 in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nokia Oyj presently has an average rating of Hold and a consensus target price of $4.42.

Nokia Oyj Price Performance

NOK stock opened at $3.45 on Tuesday. The company has a market capitalization of $19.40 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.41 and a current ratio of 1.66. Nokia Oyj has a 52-week low of $2.94 and a 52-week high of $4.67. The business has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $3.47.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same quarter last year, the firm posted $0.16 EPS. Research analysts expect that Nokia Oyj will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia Oyj

Several institutional investors have recently bought and sold shares of NOK. Pzena Investment Management LLC lifted its stake in Nokia Oyj by 13,524.2% in the third quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company’s stock valued at $160,039,000 after purchasing an additional 42,477,173 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Nokia Oyj by 10.8% in the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company’s stock valued at $380,290,000 after purchasing an additional 9,908,461 shares during the last quarter. Millennium Management LLC lifted its stake in Nokia Oyj by 55.0% in the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after purchasing an additional 9,842,934 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after purchasing an additional 7,419,900 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Nokia Oyj by 93.1% during the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock valued at $54,203,000 after acquiring an additional 5,321,714 shares during the period. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.