Nokia Corporation (NYSE:NOK) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Nokia Corporation has received a consensus rating of "Moderate Buy" from five analysts, with one sell rating and four buy ratings issued recently.
• The average 1-year target price for Nokia stock is estimated at $5.7750, while the stock opened at $4.30 and has a twelve-month range between $3.91 and $5.48.
• Nokia reported earnings of $0.05 per share, missing analysts' expectations, but showed a year-over-year revenue increase of 1.8% to $5.34 billion.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.62.

A number of brokerages have weighed in on NOK. BNP Paribas Exane upgraded Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price objective for the company in a research note on Wednesday. BNP Paribas raised Nokia to an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st.

Nokia Price Performance

NOK stock traded up $0.15 during midday trading on Monday, reaching $4.38. The stock had a trading volume of 27,234,750 shares, compared to its average volume of 19,859,521. Nokia has a 52-week low of $3.91 and a 52-week high of $5.48. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company's fifty day simple moving average is $4.53 and its 200 day simple moving average is $4.93. The company has a market cap of $23.54 billion, a price-to-earnings ratio of 21.88 and a beta of 0.90.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Nokia had a net margin of 5.30% and a return on equity of 8.36%. The company had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Nokia will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nokia

A number of large investors have recently modified their holdings of NOK. Harbour Investments Inc. grew its position in shares of Nokia by 7,046.5% in the 1st quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock worth $27,000 after acquiring an additional 5,003 shares in the last quarter. Wealthquest Corp bought a new stake in Nokia during the 1st quarter valued at $27,000. FNY Investment Advisers LLC bought a new stake in shares of Nokia in the 2nd quarter worth $34,000. Farther Finance Advisors LLC raised its stake in shares of Nokia by 58.4% in the 1st quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after buying an additional 2,651 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Nokia by 763.7% in the 1st quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after buying an additional 7,286 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.