Nokia Oyj (NYSE:NOK) Upgraded by Danske to Buy

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Nokia Oyj (NYSE:NOK) was upgraded by equities researchers at Danske from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

NOK has been the topic of several other research reports. ValuEngine downgraded shares of Willdan Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Canaccord Genuity set a $107.00 price target on shares of Columbia Sportswear and gave the stock a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research raised shares of IQE from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Goldman Sachs Group set a GBX 4,300 ($56.19) target price on shares of ASOS and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Nordea Equity Research raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Nokia Oyj has an average rating of “Hold” and an average target price of $6.83.

NOK stock opened at $5.16 on Tuesday. The stock has a market cap of $28.85 billion, a P/E ratio of 19.11 and a beta of 0.25. Nokia Oyj has a 12 month low of $4.71 and a 12 month high of $6.65. The business has a 50-day moving average of $5.06. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Nokia Oyj had a positive return on equity of 6.97% and a negative net margin of 2.65%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. As a group, analysts predict that Nokia Oyj will post 0.24 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. purchased a new position in Nokia Oyj during the 1st quarter valued at about $28,000. Truvestments Capital LLC increased its position in Nokia Oyj by 1,375.2% during the 2nd quarter. Truvestments Capital LLC now owns 4,942 shares of the technology company’s stock valued at $25,000 after purchasing an additional 4,607 shares during the period. Sterling Investment Advisors Ltd. purchased a new position in Nokia Oyj during the 1st quarter valued at about $29,000. Mark Sheptoff Financial Planning LLC purchased a new position in Nokia Oyj during the 1st quarter valued at about $29,000. Finally, Bremer Bank National Association purchased a new position in Nokia Oyj during the 1st quarter valued at about $30,000. 7.70% of the stock is currently owned by institutional investors and hedge funds.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

See Also: Return on Investment (ROI)

The Fly

Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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