Kepler Capital Markets Upgrades Nokia (NYSE:NOK) to “Buy”

Nokia (NYSE:NOK) was upgraded by research analysts at Kepler Capital Markets from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also recently commented on NOK. Northland Securities set a $7.50 target price on shares of Nokia in a research note on Friday, October 24th. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, November 21st. Santander cut Nokia to a “neutral” rating in a research report on Wednesday, October 29th. New Street Research set a $6.57 price target on Nokia in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.95.

Nokia Stock Performance

Shares of NOK stock opened at $6.45 on Wednesday. The stock’s 50-day moving average price is $6.48 and its 200 day moving average price is $5.39. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $37.05 billion, a PE ratio of 35.85 and a beta of 0.77. Nokia has a 52-week low of $4.00 and a 52-week high of $8.19.

Nokia (NYSE:NOK) last released its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Nokia had a return on equity of 8.24% and a net margin of 4.65%.The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Nokia will post 0.34 EPS for the current year.

Institutional Trading of Nokia

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in Nokia in the 1st quarter worth approximately $45,207,000. Atria Investments Inc boosted its holdings in shares of Nokia by 214.7% during the second quarter. Atria Investments Inc now owns 84,067 shares of the technology company’s stock worth $435,000 after purchasing an additional 57,350 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Nokia in the second quarter valued at $1,059,000. Penserra Capital Management LLC increased its stake in Nokia by 51.7% in the second quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock valued at $29,132,000 after purchasing an additional 1,916,098 shares during the last quarter. Finally, TSP Capital Management Group LLC increased its stake in Nokia by 8.8% in the third quarter. TSP Capital Management Group LLC now owns 2,473,592 shares of the technology company’s stock valued at $11,898,000 after purchasing an additional 200,400 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.