Nokia Corporation (NYSE:NOK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Nokia Corporation (NYSE:NOK) has earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.71.

Several brokerages recently issued reports on NOK. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Danske cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group upgraded shares of Nokia from a “sell” rating to a “neutral” rating in a research note on Monday, March 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a report on Friday, May 15th.

Nokia Price Performance

NYSE NOK opened at $13.76 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32. Nokia has a 1-year low of $4.00 and a 1-year high of $17.45. The stock has a market capitalization of $79.01 billion, a price-to-earnings ratio of 87.46, a PEG ratio of 2.82 and a beta of 1.15. The business’s fifty day moving average price is $12.36 and its 200-day moving average price is $8.86.

Nokia (NYSE:NOK) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The company had revenue of $5.21 billion during the quarter. On average, equities analysts predict that Nokia will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

A number of hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in Nokia by 34.6% during the 4th quarter. QRG Capital Management Inc. now owns 539,926 shares of the technology company’s stock valued at $3,493,000 after buying an additional 138,935 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Nokia in the 3rd quarter worth about $4,595,000. Penserra Capital Management LLC boosted its stake in shares of Nokia by 38.0% during the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock worth $37,328,000 after purchasing an additional 2,136,545 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Nokia in the third quarter worth about $11,910,000. Finally, Pzena Investment Management LLC grew its stake in shares of Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after buying an additional 11,612,590 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.