Nokia Corporation (NYSE:NOK) Receives $9.71 Consensus PT from Brokerages

Nokia Corporation (NYSE:NOK) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $10.71.

Several analysts have weighed in on NOK shares. The Goldman Sachs Group raised Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Danske cut Nokia from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Bank of America raised Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a report on Monday, April 13th.

Hedge Funds Weigh In On Nokia

Several institutional investors have recently modified their holdings of the company. DV Trading LLC bought a new position in shares of Nokia during the 1st quarter valued at about $111,000. Parallel Advisors LLC grew its position in Nokia by 40.1% during the 1st quarter. Parallel Advisors LLC now owns 43,189 shares of the technology company’s stock worth $347,000 after acquiring an additional 12,364 shares during the last quarter. NewEdge Advisors LLC grew its position in Nokia by 352.8% during the 1st quarter. NewEdge Advisors LLC now owns 14,788 shares of the technology company’s stock worth $119,000 after acquiring an additional 11,522 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Nokia during the 1st quarter worth approximately $2,106,000. Finally, Bank of America Corp DE grew its position in Nokia by 105.2% during the 1st quarter. Bank of America Corp DE now owns 2,434,347 shares of the technology company’s stock worth $19,572,000 after acquiring an additional 1,248,249 shares during the last quarter. 5.28% of the stock is currently owned by institutional investors.

Nokia Stock Down 13.7%

NOK stock opened at $14.34 on Wednesday. The stock has a fifty day moving average of $12.11 and a 200-day moving average of $8.73. The company has a market capitalization of $82.32 billion, a price-to-earnings ratio of 89.60, a PEG ratio of 3.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.57. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $17.45.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%. As a group, equities research analysts predict that Nokia will post 0.4 earnings per share for the current year.

Nokia Company Profile

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.