Nokia (NYSE:NOK) Stock Rating Upgraded by Wall Street Zen

Key Points

• Nokia has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting growing confidence among analysts in the stock's performance.
• In its latest earnings report, Nokia reported a $0.07 EPS, exceeding estimates and showing an 11.6% year-over-year revenue increase to $5.61 billion.
• The average target price for Nokia shares is currently set at $5.87, with a consensus rating of "Moderate Buy" from multiple analysts.

Nokia (NYSE:NOK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Nokia in a research report on Thursday. Northland Securities set a $7.50 target price on shares of Nokia in a report on Friday. BNP Paribas raised shares of Nokia from a "hold" rating to an "outperform" rating and set a $5.00 target price for the company in a report on Wednesday, September 3rd. BNP Paribas Exane upgraded shares of Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Nokia in a report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $5.87.

Nokia Trading Up 2.0%

Shares of NYSE NOK opened at $6.30 on Friday. The firm has a 50-day moving average of $4.83 and a 200 day moving average of $4.90. Nokia has a 1 year low of $3.91 and a 1 year high of $6.34. The stock has a market cap of $33.87 billion, a P/E ratio of 34.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the business earned $0.06 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Nokia will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia

A number of hedge funds have recently added to or reduced their stakes in the stock. Forum Financial Management LP raised its stake in Nokia by 3.6% during the 3rd quarter. Forum Financial Management LP now owns 195,049 shares of the technology company's stock valued at $938,000 after buying an additional 6,740 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Nokia during the third quarter valued at $144,000. TSP Capital Management Group LLC increased its position in 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 during the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of Nokia during the 3rd quarter valued at about $81,000. Finally, JGP Wealth Management LLC purchased a new stake in shares of Nokia during the 3rd quarter valued at about $57,000. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

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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