Nokia Corporation (NYSE:NOK) Stock Has Average Target Price of $13.41 According to Analysts

Shares of Nokia Corporation (NYSE:NOK) have been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.41.

A number of research firms have weighed in on NOK. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nokia in a research note on Tuesday, September 29th. S&P Equity Research reiterated a “positive” rating on shares of Nokia in a research report on Thursday, July 30th. B. Riley Financial initiated coverage on Nokia in a report on Thursday, September 17th. They set a “buy” rating and a $15.00 price objective on the stock. Sanford C. Bernstein restated a “neutral” rating on shares of Nokia in a research report on Thursday, July 23rd. Finally, Citigroup restated a “buy” rating on shares of Nokia in a report on Friday, October 23rd.

Nokia Trading Up 2.8%

NYSE NOK opened at $7.67 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47. The company has a market capitalization of $44.04 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24. The company’s 50-day simple moving average is $9.74 and its two-hundred day simple moving average is $10.28. Nokia has a one year low of $5.86 and a one year high of $17.45.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Nokia will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of hedge funds have recently added to or reduced their stakes in NOK. Provenance Wealth Advisors LLC purchased a new stake in shares of Nokia during the 3rd quarter worth approximately $47,000. Fifth Third Bancorp raised its position in shares of Nokia by 42.9% in the 3rd quarter. Fifth Third Bancorp now owns 6,023 shares of the technology company’s stock worth $61,000 after acquiring an additional 1,808 shares in the last quarter. Silver Grove Financial Group Inc. increased its position in Nokia by 62.0% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 6,323 shares of the technology company’s stock valued at $64,000 after buying an additional 2,420 shares in the last quarter. Gateway Wealth Partners LLC purchased a new position in Nokia in the 1st quarter worth about $81,000. Finally, Waverly Advisors LLC purchased a new position in shares of Nokia in the first quarter worth approximately $82,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Company Profile

Nokia is a Finland-based technology company focused on communications networks and related services. Its offerings include mobile and fixed network infrastructure, IP and optical networking, cloud and network software, and private wireless solutions for businesses and public-sector organizations.

The company serves communications service providers, enterprises, governments and other customers around the world. It also develops and licenses technology and intellectual property, including through its patent-licensing business.

Nokia traces its origins to a pulp mill established in Finland in 1865 and later expanded into several industries before becoming a telecommunications company.