Nokia Corporation (NYSE:NOK) Receives $6.10 Consensus PT from Brokerages

Shares of Nokia Corporation (NYSE:NOK) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.9450.

Several analysts have recently commented on NOK shares. Northland Securities set a $7.50 price objective on Nokia in a report on Friday, October 24th. Santander downgraded Nokia to a “neutral” rating in a report on Wednesday, October 29th. UBS Group restated a “neutral” rating on shares of Nokia in a research note on Tuesday, October 28th. Wall Street Zen lowered shares of Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, November 21st.

Nokia Stock Down 0.7%

NYSE:NOK opened at $6.45 on Friday. The company’s 50-day simple moving average is $6.48 and its 200-day simple moving average is $5.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.48. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $8.19. The stock has a market capitalization of $37.05 billion, a P/E ratio of 35.85 and a beta of 0.77.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.24%. Nokia’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. On average, equities analysts anticipate that Nokia will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia

Several hedge funds have recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its position in Nokia by 1.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock worth $560,150,000 after acquiring an additional 1,957,524 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Nokia by 17.0% during the third quarter. Pzena Investment Management LLC now owns 80,329,917 shares of the technology company’s stock worth $386,387,000 after purchasing an additional 11,667,677 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Nokia by 50.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock valued at $208,873,000 after buying an additional 14,482,665 shares during the last quarter. Folketrygdfondet increased its holdings in Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Nokia by 35,010.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock worth $60,871,000 after buying an additional 12,619,099 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.