Nokia Oyj (NOK) Receives Average Rating of “Hold” from Brokerages

Shares of Nokia Oyj (NYSE:NOK) have received an average rating of “Hold” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.51.

NOK has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia Oyj in a research report on Friday, October 27th. Vetr raised shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.37 price objective on the stock in a research report on Monday, September 25th. UBS Group reissued a “buy” rating on shares of Nokia Oyj in a research report on Wednesday, September 20th. Argus downgraded shares of Nokia Oyj from a “buy” rating to a “hold” rating and increased their price objective for the company from $4.76 to $4.91 in a research report on Monday, October 30th. Finally, Canaccord Genuity dropped their price target on shares of Nokia Oyj from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, October 27th.

Shares of Nokia Oyj (NYSE NOK) traded down $0.04 during mid-day trading on Monday, reaching $4.88. 10,337,377 shares of the company traded hands, compared to its average volume of 10,977,000. Nokia Oyj has a one year low of $4.50 and a one year high of $6.65. The stock has a market cap of $28,390.00, a P/E ratio of -54.22, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.21.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia Oyj had a negative net margin of 2.09% and a positive return on equity of 9.88%. The company had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the firm posted $0.04 EPS. Nokia Oyj’s revenue for the quarter was down 7.0% on a year-over-year basis. analysts anticipate that Nokia Oyj will post 0.33 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Nokia Oyj by 16.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,149,756 shares of the technology company’s stock valued at $18,836,000 after acquiring an additional 439,324 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Nokia Oyj by 11.7% during the 3rd quarter. Moors & Cabot Inc. now owns 290,639 shares of the technology company’s stock valued at $1,738,000 after acquiring an additional 30,500 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nokia Oyj by 48.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 40,379 shares of the technology company’s stock valued at $241,000 after acquiring an additional 13,259 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Nokia Oyj during the 3rd quarter valued at about $4,053,000. Finally, Lenox Wealth Management Inc. boosted its holdings in shares of Nokia Oyj by 35.5% during the 3rd quarter. Lenox Wealth Management Inc. now owns 129,663 shares of the technology company’s stock valued at $775,000 after acquiring an additional 33,987 shares during the last quarter. 5.83% of the stock is currently owned by hedge funds and other institutional investors.

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About Nokia Oyj

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

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