Nokia Corporation (NYSE:NOK) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Nokia Corporation (NYSE:NOK) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.12.

A number of research firms recently commented on NOK. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a report on Friday, September 4th. B. Riley Financial began coverage on shares of Nokia in a research report on Thursday, September 17th. They set a “buy” rating and a $15.00 price target for the company. Finally, Rosenblatt Securities began coverage on shares of Nokia in a report on Tuesday, September 15th. They issued a “buy” rating and a $15.00 price target on the stock.

Nokia Trading Up 2.1%

Shares of NYSE:NOK opened at $10.35 on Tuesday. The stock has a market capitalization of $59.43 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The stock’s 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $11.37. Nokia has a 52-week low of $5.19 and a 52-week high of $17.45.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The business had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the company earned $0.04 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts expect that Nokia will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOK. J2 Capital Management Inc increased its position in shares of Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after acquiring an additional 1,319 shares during the period. Syon Capital LLC lifted its position in Nokia by 12.7% during the 2nd quarter. Syon Capital LLC now owns 11,730 shares of the technology company’s stock worth $156,000 after acquiring an additional 1,321 shares during the period. Kathmere Capital Management LLC grew its stake in Nokia by 14.0% during the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,483 shares during the last quarter. Assetmark Inc. boosted its position in Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock valued at $118,000 after buying an additional 1,591 shares during the last quarter. Finally, Burford Brothers Inc. lifted its position in Nokia by 9.2% during the second quarter. Burford Brothers Inc. now owns 21,950 shares of the technology company’s stock valued at $291,000 after purchasing an additional 1,850 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

About Nokia

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.