Weiss Ratings Reaffirms "Hold (C)" Rating for Nokia (NYSE:NOK)

Key Points

• Weiss Ratings has restated its "hold (C)" rating for Nokia, indicating a cautious outlook on the stock's performance.
• Recent analyst upgrades include BNP Paribas and Wall Street Zen, moving Nokia from "hold" to "outperform" and "buy" ratings respectively, with an average target price of $5.87.
• Nokia reported a 11.6% increase in quarterly revenue year-over-year, reaching $5.61 billion, and exceeded earnings expectations with $0.07 EPS against a $0.06 consensus estimate.

Nokia (NYSE:NOK - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other analysts also recently issued reports on NOK. BNP Paribas raised shares of Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. Wall Street Zen raised shares of Nokia from a "hold" rating to a "buy" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nokia in a report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of Nokia from $6.00 to $7.10 and gave the company an "overweight" rating in a report on Friday. Finally, BNP Paribas Exane raised shares of Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price target for the company in a report on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $5.87.

Nokia Price Performance

NYSE NOK opened at $6.30 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $4.91. The company has a market cap of $33.87 billion, a P/E ratio of 34.97 and a beta of 0.85. Nokia has a 1 year low of $3.91 and a 1 year high of $6.34.

Nokia (NYSE:NOK - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. Nokia's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, sell-side analysts predict that Nokia will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Nokia

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Nokia during the 1st quarter valued at about $45,207,000. Charles Schwab Investment Management Inc. lifted its holdings in Nokia by 18.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company's stock valued at $2,471,000 after purchasing an additional 74,072 shares during the last quarter. TCW Group Inc. bought a new position in Nokia during the 1st quarter valued at about $425,000. Northern Trust Corp lifted its holdings in Nokia by 6.2% during the 1st quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company's stock valued at $20,573,000 after purchasing an additional 228,030 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Nokia during the 1st quarter valued at about $641,000. 5.28% of the stock is owned by institutional investors.

About Nokia

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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