Nokia (NYSE:NOK) Trading 6% Higher - Still a Buy?

Key Points

• Nokia shares rose 6% to $9.92 in heavy trading, with nearly 97.6 million shares changing hands versus an average volume of about 82.4 million.
• Analyst sentiment is broadly positive but mixed: 13 analysts rate Nokia a Buy, three rate it Hold and two rate it Sell, producing a consensus “Moderate Buy” rating and an average price target of $12.57.
• Nokia exceeded quarterly EPS expectations with $0.08 versus $0.07 forecast, while revenue rose 8.4% year over year to $5.50 billion but came in below the $5.57 billion consensus estimate.

Nokia Corporation (NYSE:NOK - Get Free Report)'s stock price was up 6% on Tuesday . The stock traded as high as $10.17 and last traded at $9.92. 97,614,491 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 82,376,258 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOK. Barclays restated an "underweight" rating on shares of Nokia in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Nokia in a report on Friday, May 15th. Wall Street Zen cut shares of Nokia from a "buy" rating to a "hold" rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. raised their price target on Nokia from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Finally, Argus raised shares of Nokia from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.57.

Nokia Stock Up 6.0%

The stock has a 50-day moving average of $12.72 and a 200 day moving average of $10.39. The company has a market cap of $56.96 billion, a P/E ratio of 70.86, a PEG ratio of 1.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company earned $0.04 EPS. Nokia's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts anticipate that Nokia Corporation will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NOK. J2 Capital Management Inc raised its position in shares of Nokia by 2.0% in the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock worth $548,000 after buying an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Nokia by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock worth $145,000 after buying an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock worth $97,000 after acquiring an additional 1,483 shares during the last quarter. Xponance LLC raised its holdings in shares of Nokia by 13.0% in the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Nokia by 12.1% during the 1st quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock valued at $118,000 after acquiring an additional 1,591 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

About Nokia

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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