Nokia Corporation (NYSE:NOK) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Nokia Corporation has received an average recommendation of "Moderate Buy" from seven analysts, with five rated as buys, one as hold, and one as sell.
• The average 12-month price target for Nokia's stock among analysts is $5.32, with some firms like BNP Paribas setting targets at $5.00.
• Recent institutional investments show increased confidence in Nokia, with significant holdings raised by firms such as Deutsche Bank and Millennium Management.

Nokia Corporation (NYSE:NOK - Get Free Report) has received an average rating of "Moderate Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.32.

Several equities research analysts have commented on NOK shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a research note on Wednesday, October 8th. BNP Paribas raised Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. cut their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. 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, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Nokia in a research note on Wednesday, October 15th.

Institutional Investors Weigh In On Nokia

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in Nokia in the first quarter valued at approximately $45,207,000. Deutsche Bank AG raised its stake in shares of Nokia by 129.4% in the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock valued at $45,179,000 after buying an additional 4,835,005 shares during the period. Millennium Management LLC lifted its position in shares of Nokia by 6,539.2% during the 1st quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock valued at $14,975,000 after buying an additional 2,798,758 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Nokia during the 2nd quarter worth $14,260,000. Finally, Artisan Partners Limited Partnership increased its holdings in Nokia by 1.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company's stock worth $560,150,000 after acquiring an additional 1,957,524 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

Nokia Price Performance

Shares of NYSE:NOK opened at $5.71 on Tuesday. 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 stock has a market cap of $30.70 billion, a PE ratio of 28.53 and a beta of 0.85. The stock's fifty day simple moving average is $4.70 and its two-hundred day simple moving average is $4.87. Nokia has a 1-year low of $3.91 and a 1-year high of $5.79.

Nokia (NYSE:NOK - Get Free Report) last announced its earnings results on Thursday, July 24th. The technology company reported $0.05 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 firm had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the company earned $0.06 EPS. The business's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts forecast that Nokia will post 0.34 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.