Nokia Corporation (NYSE:NOK) Receives $12.57 Consensus PT from Analysts

Shares of Nokia Corporation (NYSE:NOK) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.5671.

NOK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a report on Monday, April 13th. Morgan Stanley restated an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th.

Institutional Trading of Nokia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi acquired a new stake in Nokia during the 1st quarter worth $776,000. AQR Capital Management LLC increased its stake in shares of Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company’s stock worth $985,000 after purchasing an additional 40,276 shares during the last quarter. Millennium Management LLC raised its stake in Nokia by 6,539.2% in the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company’s stock valued at $14,975,000 after acquiring an additional 2,798,758 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Nokia by 6,204.9% during the 1st quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company’s stock worth $319,000 after buying an additional 59,505 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company’s stock worth $66,140,000 after acquiring an additional 1,002,033 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Stock Performance

Shares of NOK stock opened at $8.40 on Thursday. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 60.00, a P/E/G ratio of 1.01 and a beta of 1.17. Nokia has a 1-year low of $4.00 and a 1-year high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $13.08 and its 200-day simple moving average is $10.34.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the business earned $0.04 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Nokia will post 0.41 earnings per share for the current fiscal year.

About Nokia

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.