Nokia (NYSE:NOK) Upgraded by Morgan Stanley to "Overweight"

Friday, May 7, 2021 | MarketBeat

Nokia (NYSE:NOK) was upgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued on Friday, The Fly reports.

Several other brokerages have also commented on NOK. SEB Equities raised Nokia from a "hold" rating to a "buy" rating in a research report on Friday, April 30th. Credit Suisse Group reissued a "neutral" rating on shares of Nokia in a research report on Friday, April 30th. Barclays reaffirmed an "equal weight" rating on shares of Nokia in a research report on Wednesday, April 14th. SEB Equity Research raised Nokia from a "hold" rating to a "buy" rating in a research report on Friday, April 30th. Finally, UBS Group reaffirmed a "buy" rating on shares of Nokia in a research report on Wednesday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Nokia has a consensus rating of "Hold" and a consensus price target of $5.75.

Shares of NOK stock opened at $4.87 on Friday. The stock has a fifty day moving average of $4.18 and a 200 day moving average of $4.08. Nokia has a 52 week low of $3.21 and a 52 week high of $9.79. The firm has a market capitalization of $27.36 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 12.25 and a beta of 0.75. The company has a quick ratio of 1.29, a current ratio of 1.53 and a debt-to-equity ratio of 0.34.

Nokia (NYSE:NOK) last announced its quarterly earnings results on Thursday, April 29th. The technology company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.07. Nokia had a return on equity of 9.34% and a net margin of 3.31%. Equities research analysts anticipate that Nokia will post 0.26 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC bought a new stake in shares of Nokia during the 1st quarter valued at about $304,000. Prospera Financial Services Inc bought a new stake in shares of Nokia during the 1st quarter valued at about $126,000. Lesa Sroufe & Co grew its stake in shares of Nokia by 20.7% during the 1st quarter. Lesa Sroufe & Co now owns 399,185 shares of the technology company's stock valued at $1,581,000 after purchasing an additional 68,401 shares during the period. Lakeview Capital Partners LLC bought a new stake in shares of Nokia during the 1st quarter valued at about $69,000. Finally, Horrell Capital Management Inc. grew its stake in shares of Nokia by 14.3% during the 1st quarter. Horrell Capital Management Inc. now owns 600,000 shares of the technology company's stock valued at $2,376,000 after purchasing an additional 75,000 shares during the period. Institutional investors and hedge funds own 4.21% of the company's stock.

About Nokia

Nokia Corporation provides mobile and fixed network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.

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Analyst Recommendations for Nokia (NYSE:NOK)

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