Nokia (NYSE:NOK) Rating Increased to Buy at Arete Research

Key Points

• Arete Research upgraded Nokia from "neutral" to "buy," joining other recent upgrades (Morgan Stanley, Nordea, Santander, Argus) as analysts total 12 Buys, 4 Holds and 2 Sells with an average rating of "Moderate Buy" and an average price target of $9.71.
• Shares jumped about 4.0% to $11.75 on the news with 27.3 million shares trading; the stock has a 1‑year range of $4.00–$11.90, a market cap of $67.49 billion and a P/E of 73.49.
• Nokia reported Q1 EPS of $0.06 on $5.21 billion in revenue, and sell‑side analysts expect roughly $0.41 in EPS for the current year.

Nokia (NYSE:NOK - Get Free Report) was upgraded by equities researchers at Arete Research from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports.

A number of other brokerages have also weighed in on NOK. Morgan Stanley reissued an "overweight" rating on shares of Nokia in a report on Tuesday. Nordea Equity Research upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Santander raised Nokia from a "neutral" rating to an "outperform" rating in a report on Monday, February 2nd. Northland Securities set a $13.00 price objective on Nokia in a research note on Monday, April 20th. Finally, Argus raised Nokia from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.71.

Nokia Stock Up 4.0%

Shares of NOK traded up $0.45 during midday trading on Wednesday, hitting $11.75. 27,328,496 shares of the company's stock traded hands, compared to its average volume of 57,887,398. Nokia has a 1 year low of $4.00 and a 1 year high of $11.90. The firm's fifty day moving average is $8.73 and its 200-day moving average is $7.28. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $67.49 billion, a price-to-earnings ratio of 73.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.06 EPS for the quarter. Nokia had a return on equity of 9.22% and a net margin of 4.02%.The company had revenue of $5.21 billion during the quarter. As a group, sell-side analysts anticipate that Nokia will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

Several hedge funds have recently bought and sold shares of NOK. Collaborative Fund Advisors LLC acquired a new stake in shares of Nokia during the 1st quarter worth approximately $280,000. Kathmere Capital Management LLC lifted its stake in shares of Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock valued at $97,000 after purchasing an additional 1,483 shares during the period. Stephens Inc. AR purchased a new stake in Nokia during the first quarter worth $87,000. Ariose Capital Management Ltd acquired a new stake in Nokia during the first quarter valued at $4,809,000. Finally, V Square Quantitative Management LLC grew its position in Nokia by 4.4% during the first quarter. V Square Quantitative Management LLC now owns 143,796 shares of the technology company's stock valued at $1,156,000 after buying an additional 6,074 shares during the period. Hedge funds and other institutional investors own 5.28% of the company's stock.

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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