Nokia Oyj (NYSE:NOK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nokia Oyj (NYSE:NOK) have received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.85.

NOK has been the subject of a number of recent analyst reports. Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group lowered Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. StockNews.com lowered Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an “overweight” rating on the stock in a report on Friday, February 21st.

Nokia Oyj Trading Up 2.6 %

NYSE:NOK opened at $5.34 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 1-year low of $3.29 and a 1-year high of $5.35. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 6.43 and a beta of 1.11. The business’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $4.55.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. On average, equities analysts expect that Nokia Oyj will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors have recently bought and sold shares of NOK. QRG Capital Management Inc. grew its stake in shares of Nokia Oyj by 29.9% during the 4th quarter. QRG Capital Management Inc. now owns 690,657 shares of the technology company’s stock worth $3,060,000 after acquiring an additional 158,935 shares in the last quarter. FMR LLC grew its position in Nokia Oyj by 1,012.3% in the third quarter. FMR LLC now owns 30,497,275 shares of the technology company’s stock valued at $133,273,000 after purchasing an additional 27,755,460 shares in the last quarter. XTX Topco Ltd acquired a new stake in Nokia Oyj in the 3rd quarter valued at $1,417,000. Allspring Global Investments Holdings LLC lifted its position in Nokia Oyj by 14.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 50,428 shares of the technology company’s stock worth $226,000 after buying an additional 6,395 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Nokia Oyj by 261.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,069 shares of the technology company’s stock worth $457,000 after buying an additional 74,552 shares during the last quarter. 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.