JPMorgan Chase & Co. Cuts Nokia Oyj (NYSE:NOK) Price Target to $4.26

Nokia Oyj (NYSE:NOK - Get Free Report) had its target price lowered by analysts at JPMorgan Chase & Co. from $4.39 to $4.26 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 28.12% from the stock's current price.

Other equities research analysts have also issued reports about the company. BNP Paribas started coverage on Nokia Oyj in a report on Friday, January 12th. They issued a "neutral" rating for the company. Barclays lowered Nokia Oyj from an "equal weight" rating to an "underweight" rating in a report on Friday, January 19th. Finally, The Goldman Sachs Group lowered Nokia Oyj from a "buy" rating to a "neutral" rating and cut their price target for the stock from $5.10 to $3.40 in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $4.42.

Nokia Oyj Stock Performance

NOK traded up $0.03 on Tuesday, hitting $3.33. The company had a trading volume of 35,259,432 shares, compared to its average volume of 15,133,164. The company's fifty day moving average price is $3.54 and its 200 day moving average price is $3.47. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

Nokia Oyj (NYSE:NOK - Get Free Report) last posted its earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the firm posted $0.16 earnings per share. Equities analysts predict that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of NOK. Pzena Investment Management LLC increased its position in shares of Nokia Oyj by 13,524.2% during the third quarter. Pzena Investment Management LLC now owns 42,791,256 shares of the technology company's stock valued at $160,039,000 after purchasing an additional 42,477,173 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Nokia Oyj by 10.8% during the third quarter. Artisan Partners Limited Partnership now owns 101,681,755 shares of the technology company's stock valued at $380,290,000 after purchasing an additional 9,908,461 shares during the period. Millennium Management LLC grew its position in Nokia Oyj by 55.0% in the fourth quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company's stock valued at $128,727,000 after acquiring an additional 9,842,934 shares during the period. Renaissance Technologies LLC grew its position in Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company's stock valued at $140,358,000 after acquiring an additional 7,419,900 shares during the period. Finally, BlackRock Inc. grew its position in Nokia Oyj by 93.1% in the first quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company's stock valued at $54,203,000 after acquiring an additional 5,321,714 shares during the period. 5.28% of the stock is currently owned by institutional investors.

About Nokia Oyj

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.