Nokia (NYSE:NOK) Raised to "Outperform" at BNP Paribas Exane

Key Points

• Nokia's stock rating has been upgraded from "neutral" to "outperform" by BNP Paribas Exane, with a price target of $5.00 indicating a potential upside of 17.79%.
• Recent earnings results showed that Nokia missed the consensus EPS estimate of $0.07, reporting $0.05 EPS, although revenues increased year-over-year by 1.8% to $5.34 billion.
• Currently, Nokia has a consensus rating of "Moderate Buy" with five analysts rating it as a buy and one as a sell, and a consensus price target of $5.62.

BNP Paribas Exane upgraded shares of Nokia (NYSE:NOK - Free Report) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm currently has $5.00 price target on the technology company's stock.

NOK has been the subject of a number of other reports. Wall Street Zen upgraded Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.52.

Nokia Price Performance

Shares of NOK stock traded down $0.05 during trading hours on Wednesday, hitting $4.56. 37,404,295 shares of the company's stock were exchanged, compared to its average volume of 17,295,752. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 22.78 and a beta of 0.90. Nokia has a 52 week low of $3.91 and a 52 week high of $5.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. The stock's 50-day moving average is $4.49 and its 200-day moving average is $4.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthquest Corp bought a new position in shares of Nokia in the 1st quarter worth $27,000. Harbour Investments Inc. increased 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 valued at $27,000 after buying an additional 5,003 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Nokia in the second quarter valued at about $34,000. Farther Finance Advisors LLC grew its stake in Nokia by 58.4% in the first quarter. Farther Finance Advisors LLC now owns 7,191 shares of the technology company's stock valued at $38,000 after acquiring an additional 2,651 shares during the period. Finally, Assetmark Inc. grew its stake in Nokia by 763.7% in the first quarter. Assetmark Inc. now owns 8,240 shares of the technology company's stock valued at $43,000 after acquiring an additional 7,286 shares during the period. 5.28% of the stock is currently owned by 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.