Canaccord Genuity Reiterates “Buy” Rating for Nokia Oyj (NYSE:NOK)

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Nokia Oyj (NYSE:NOK)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a research note issued to investors on Thursday, TipRanks reports. They presently have a $5.50 price target on the technology company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 74.60% from the stock’s current price.

Other analysts also recently issued reports about the company. Charter Equity restated a “hold” rating on shares of Nokia Oyj in a research note on Thursday, February 6th. New Street Research upgraded Nokia Oyj from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 7th. Northland Securities assumed coverage on Nokia Oyj in a research note on Monday, March 2nd. They issued an “outperform” rating and a $6.00 price target for the company. Finally, Raymond James upgraded Nokia Oyj from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $5.50 to $4.50 in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Nokia Oyj has a consensus rating of “Buy” and an average price target of $4.81.

Shares of NYSE NOK opened at $3.15 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.31. Nokia Oyj has a 12 month low of $2.34 and a 12 month high of $5.96. The stock has a 50 day moving average of $3.64 and a 200-day moving average of $4.00. The company has a market capitalization of $16.48 billion, a P/E ratio of -315,000.00, a P/E/G ratio of 0.59 and a beta of 0.17.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.38 billion. Nokia Oyj had a positive return on equity of 8.21% and a negative net margin of 0.03%. Analysts predict that Nokia Oyj will post 0.26 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Aspiriant LLC acquired a new position in Nokia Oyj in the 4th quarter worth about $74,000. State Street Corp increased its holdings in Nokia Oyj by 5,240.8% in the 3rd quarter. State Street Corp now owns 605,118 shares of the technology company’s stock worth $3,062,000 after purchasing an additional 593,788 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Nokia Oyj by 134.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 138,116 shares of the technology company’s stock worth $512,000 after purchasing an additional 79,172 shares in the last quarter. Altfest L J & Co. Inc. acquired a new position in Nokia Oyj in the 4th quarter worth about $268,000. Finally, Creative Planning increased its holdings in Nokia Oyj by 9.1% in the 4th quarter. Creative Planning now owns 168,458 shares of the technology company’s stock worth $625,000 after purchasing an additional 14,093 shares in the last quarter. Hedge funds and other institutional investors own 4.84% of the company’s stock.

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).

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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