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

Nokia Oyj (NYSE:NOK) had its price objective cut by JPMorgan Chase & Co. from $4.39 to $4.26 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

NOK has been the topic of several other reports. Barclays cut shares of Nokia Oyj from an equal weight rating to an underweight rating in a research report on Friday, January 19th. The Goldman Sachs Group lowered shares of Nokia Oyj from a buy rating to a neutral rating and lowered their price objective for the stock from $5.10 to $3.40 in a research note on Monday, December 18th. Finally, BNP Paribas assumed coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They set a neutral rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $4.42.

Nokia Oyj Trading Up 3.5 %

Shares of NYSE:NOK opened at $3.45 on Tuesday. The company’s 50-day moving average price is $3.54 and its two-hundred day moving average price is $3.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. Nokia Oyj has a one year low of $2.94 and a one year high of $4.67. The stock has a market capitalization of $19.40 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 EPS 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 business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the firm earned $0.16 earnings per share. On average, equities analysts forecast that Nokia Oyj will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC acquired a new position in Nokia Oyj in the 3rd quarter valued at about $67,000. Sowell Financial Services LLC acquired a new position in Nokia Oyj in the 4th quarter valued at about $333,000. O Shaughnessy Asset Management LLC grew its stake in Nokia Oyj by 22.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,396 shares of the technology company’s stock valued at $76,000 after buying an additional 3,767 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Nokia Oyj in the 3rd quarter valued at about $768,000. Finally, Walleye Capital LLC acquired a new position in Nokia Oyj in the 3rd quarter valued at about $12,591,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

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.