Nokia Corporation (NYSE:NOK) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Wall Street analysts rate Nokia a “Moderate Buy.” Of 19 analysts, 13 recommend buying, one recommends a strong buy, three advise holding and two rate it a sell; the average 12-month price target is $14.12.
• Institutional investors have increased their Nokia holdings. Several hedge funds expanded their positions or initiated new stakes, although institutions and hedge funds collectively own 5.28% of the company.
• Nokia shares opened at $10.22, versus a 52-week range of $4.92 to $17.45. The company’s latest quarterly earnings beat estimates at $0.08 per share, while revenue of $5.50 billion fell slightly short of expectations but rose 8.4% year over year.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.12.

Several equities analysts have recently commented on NOK shares. 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 on the stock. JPMorgan Chase & Co. lifted their target price on Nokia from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Rosenblatt Securities started coverage on Nokia in a report on Tuesday, September 15th. They issued a "buy" rating and a $15.00 price target for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a research note on Friday, September 4th. Finally, Danske upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, July 1st.

Hedge Funds Weigh In On Nokia

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Nokia by 9.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 47,321,058 shares of the technology company's stock worth $306,167,000 after purchasing an additional 3,896,363 shares during the period. ARGA Investment Management LP boosted its position in Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company's stock valued at $163,921,000 after purchasing an additional 12,734,021 shares during the period. Analog Century Management LP bought a new position in Nokia during the 4th quarter worth $104,244,000. Renaissance Technologies LLC increased its position in Nokia by 131.3% in the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company's stock worth $106,890,000 after buying an additional 7,546,000 shares during the period. Finally, Troluce Capital Advisors LLC acquired a new stake in Nokia in the first quarter worth $20,100,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Stock Performance

Nokia stock opened at $10.22 on Tuesday. Nokia has a 52 week low of $4.92 and a 52 week high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock has a market cap of $58.69 billion, a P/E ratio of 73.00, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. The stock has a 50 day moving average of $10.11 and a 200-day moving average of $11.33.

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

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.

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