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

Key Points

• Nokia Corporation has received an average recommendation of "Moderate Buy" from seven research firms, with six analysts endorsing a buy and one suggesting a sell.
• The average 12-month price target for Nokia shares is $5.5167, with BNP Paribas upgrading its rating to "outperform" and setting a $5.00 target.
• The company reported earnings of $0.05 EPS for the last quarter, falling short of the consensus estimate of $0.07, but it achieved a revenue of $5.34 billion, exceeding expectations.

Shares of Nokia Corporation (NYSE:NOK - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six 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 $5.5167.

A number of analysts have recently weighed in on NOK shares. BNP Paribas upgraded Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price target on the stock in a research report on Wednesday, September 3rd. BNP Paribas Exane raised Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price target for the company in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th.

Nokia Trading Down 1.4%

Shares of NOK opened at $4.68 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The stock has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.89. Nokia has a one year low of $3.91 and a one year high of $5.48. The company has a market capitalization of $25.16 billion, a P/E ratio of 23.38 and a beta of 0.90.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Nokia had a return on equity of 8.36% and a net margin of 5.30%.The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business earned $0.06 EPS. The company's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts forecast that Nokia will post 0.34 EPS for the current fiscal year.

Institutional Trading of Nokia

Institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its position in Nokia by 7,046.5% during the first quarter. Harbour Investments Inc. now owns 5,074 shares of the technology company's stock valued at $27,000 after purchasing an additional 5,003 shares during the last quarter. Wealthquest Corp bought a new position in Nokia during the first quarter valued at about $27,000. FNY Investment Advisers LLC bought a new position in shares of Nokia in the second quarter worth about $34,000. Farther Finance Advisors LLC increased its stake in shares of Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock worth $38,000 after purchasing an additional 2,651 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock worth $43,000 after purchasing an additional 7,286 shares during the period. Institutional investors and hedge funds own 5.28% of the company's stock.

Nokia Company Profile

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.

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