Nokia (NYSE:NOK) Sets New 12-Month High - Time to Buy?

Key Points

• Nokia shares hit a new 52-week high of $10.58 on Monday, with roughly 12.9 million shares trading and the stock last at $10.5850.
• Analyst views are mixed—nine Buys, six Holds and one Sell—producing a consensus rating of Moderate Buy
• Fundamentals show a market cap of $60.3B and a high valuation (P/E 80.81) alongside modest profitability: last quarter EPS $0.11 on $7.19B revenue and a net margin of 3.41%, suggesting elevated valuation relative to earnings.

Nokia Corporation (NYSE:NOK - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $10.58 and last traded at $10.5850, with a volume of 12864981 shares. The stock had previously closed at $10.31.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOK. Danske cut Nokia from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Arete Research downgraded Nokia from a "buy" rating to a "neutral" rating in a report on Friday, March 13th. Citigroup reaffirmed a "sell" rating on shares of Nokia in a research note on Friday, January 23rd. Northland Securities set a $13.00 price target on shares of Nokia in a report on Monday. Finally, Bank of America upgraded shares of Nokia from a "neutral" rating to a "buy" rating and set a $12.40 price objective for the company in a report on Monday, April 13th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.83.

Nokia Price Performance

The stock has a market cap of $60.32 billion, a PE ratio of 80.81, a P/E/G ratio of 1.88 and a beta of 0.77. The business has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $7.01. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11.

Nokia (NYSE:NOK - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The technology company reported $0.11 earnings per share for the quarter. The company had revenue of $7.19 billion for the quarter. Nokia had a return on equity of 8.54% and a net margin of 3.41%. Research analysts forecast that Nokia Corporation will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Nokia

A number of hedge funds and other institutional investors have recently bought and sold shares of NOK. Jefferies Financial Group Inc. purchased a new stake in shares of Nokia in the 3rd quarter worth approximately $4,595,000. Penserra Capital Management LLC raised its stake in 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 buying an additional 2,136,545 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Nokia by 35,010.3% in the third quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company's stock worth $60,871,000 after acquiring an additional 12,619,099 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Nokia in the third quarter worth $11,910,000. Finally, TSP Capital Management Group LLC increased its holdings in shares of Nokia by 8.8% during the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company's stock valued at $11,898,000 after acquiring an additional 200,400 shares in the last quarter. 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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