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

Key Points

• Wall Street analysts rate Nokia a “Moderate Buy.” Sixteen of 23 analysts recommend buying the stock, while five rate it a hold and two a sell; the average 12-month price target is $13.41.
• Nokia exceeded quarterly expectations, reporting $0.10 in EPS versus the $0.08 consensus estimate and $5.84 billion in revenue, up 9.7% year over year.
• Shares opened at $8.51, well below the analyst price target, after trading between $5.86 and $17.45 over the past year. Institutional ownership stands at 5.28%, with several investment firms increasing their positions.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $13.41.

A number of equities research analysts have weighed in on NOK shares. JPMorgan Chase & Co. reduced their target price on shares of Nokia from $21.00 to $20.50 and set an "overweight" rating on the stock in a report on Friday, October 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Nokia in a research report on Friday, September 4th. 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 report on Thursday, July 30th. Finally, Sanford C. Bernstein reiterated a "neutral" rating on shares of Nokia in a report on Thursday, July 23rd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC bought a new position in Nokia during the 3rd quarter worth approximately $47,000. Integrity Alliance LLC. bought a new stake in shares of Nokia in the 3rd quarter valued at $175,000. ARGA Investment Management LP boosted its stake in shares of Nokia by 364.5% in the 3rd quarter. ARGA Investment Management LP now owns 21,815,690 shares of the technology company's stock valued at $221,211,000 after purchasing an additional 17,119,411 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Nokia by 12.1% in the 3rd quarter. Profund Advisors LLC now owns 72,228 shares of the technology company's stock valued at $732,000 after purchasing an additional 7,771 shares during the last quarter. Finally, MGO One Seven LLC increased its position in shares of Nokia by 87.2% during the third quarter. MGO One Seven LLC now owns 97,011 shares of the technology company's stock worth $984,000 after buying an additional 45,181 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Price Performance

Nokia stock opened at $8.51 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $48.87 billion, a PE ratio of 53.19, a P/E/G ratio of 1.52 and a beta of 1.19. Nokia has a 12 month low of $5.86 and a 12 month high of $17.45. The stock has a 50-day moving average price of $9.97 and a two-hundred day moving average price of $10.24.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm posted $0.06 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect that Nokia will post 0.39 EPS for the current year.

About Nokia

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company's business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.

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