Nokia (NYSE:NOK) Raised to "Buy" at Argus

Key Points

• Argus upgrade: Argus raised Nokia from "hold" to "buy" and set a $15 price target, implying about a 43.6% upside from the prior close.
• Analyst mix: The Street shows a "Moderate Buy" consensus with 11 Buys, 5 Holds and 1 Sell and a consensus price target of $9.71, indicating divergence among brokers.
• Stock and fundamentals: NOK opened at $10.45, trades within a 52-week range of $4.00–$10.90, has a market cap near $60B, reported $0.06 EPS on $5.21B revenue last quarter and carries a P/E around 65.

Nokia (NYSE:NOK - Get Free Report) was upgraded by research analysts at Argus from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $15.00 price objective on the technology company's stock. Argus' price target points to a potential upside of 43.61% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Northland Securities set a $13.00 target price on shares of Nokia in a research report on Monday, April 20th. Citigroup reissued a "sell" rating on shares of Nokia in a research report on Friday, January 23rd. Santander raised Nokia from a "neutral" rating to an "outperform" rating in a research report on Monday, February 2nd. Morgan Stanley initiated coverage on Nokia in a research note on Monday, February 9th. They set an "overweight" rating and a $8.00 price target on the stock. Finally, Kepler Capital Markets raised shares of Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, January 7th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.71.

Nokia Price Performance

Shares of NOK opened at $10.45 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.36 and a current ratio of 1.58. The company has a 50 day moving average price of $8.58 and a 200-day moving average price of $7.20. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $10.90. The stock has a market capitalization of $59.98 billion, a PE ratio of 65.29, a PEG ratio of 2.02 and a beta of 0.77.

Nokia (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.22%. Equities analysts predict that Nokia will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in shares of Nokia during the 3rd quarter worth about $4,595,000. Penserra Capital Management LLC raised its holdings in shares of Nokia by 38.0% during the third quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company's stock valued at $37,328,000 after acquiring an additional 2,136,545 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Nokia in the third quarter valued at approximately $11,910,000. Thrivent Financial for Lutherans increased its position in shares of Nokia by 35,010.3% during the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company's stock worth $60,871,000 after purchasing an additional 12,619,099 shares in the last quarter. Finally, TSP Capital Management Group LLC lifted its holdings in Nokia by 8.8% in the 3rd quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company's stock valued at $11,898,000 after purchasing an additional 200,400 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia's core activities center on designing, building and supporting communications networks and related software.

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