Nokia (NYSE:NOK) Upgraded by Kepler Capital Markets to "Buy" Rating

Key Points

• Kepler Capital Markets upgraded Nokia to a "Buy", joining several other firms and contributing to an overall analyst consensus of a “Moderate Buy” with a consensus price target of $5.95.
• Nokia beat its recent quarterly estimates with $0.07 EPS (vs. $0.06 expected) and $5.61 billion in revenue, a year-over-year revenue increase of 11.6%, and analysts expect about $0.34 EPS for the current fiscal year.
• The stock is trading around $6.45 with a 52-week range of $4.00–$8.19, a market cap of $37.05 billion and a P/E of 35.85, while several institutional investors have recently increased their positions.

Nokia (NYSE:NOK - Get Free Report) was upgraded by stock analysts at Kepler Capital Markets from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

Several other research analysts have also recently weighed in on NOK. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a report on Friday, November 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nokia in a research note on Wednesday, October 15th. New Street Research set a $6.57 target price on Nokia in a research note on Thursday, November 20th. JPMorgan Chase & Co. boosted their price target on shares of Nokia from $7.10 to $8.00 and gave the company an "overweight" rating in a research report on Monday, December 1st. Finally, Jefferies Financial Group upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research report on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.95.

Nokia Trading Down 0.7%

Shares of NOK stock opened at $6.45 on Wednesday. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $8.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.48. The stock's fifty day moving average is $6.48 and its two-hundred day moving average is $5.39. The firm has a market capitalization of $37.05 billion, a P/E ratio of 35.85 and a beta of 0.77.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.24%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Research analysts expect that Nokia will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Amundi purchased a new position in shares of Nokia during the first quarter worth about $776,000. AQR Capital Management LLC grew its stake in Nokia by 27.5% during the 1st quarter. AQR Capital Management LLC now owns 186,997 shares of the technology company's stock worth $985,000 after buying an additional 40,276 shares during the last quarter. Millennium Management LLC lifted its stake in Nokia by 6,539.2% in the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock valued at $14,975,000 after buying an additional 2,798,758 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Nokia by 6,204.9% in the first quarter. NewEdge Advisors LLC now owns 60,464 shares of the technology company's stock valued at $319,000 after acquiring an additional 59,505 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock worth $66,140,000 after acquiring an additional 1,002,033 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other 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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