Nokia Corporation (NYSE:NOK) Receives $12.57 Consensus Target Price from Analysts

Shares of Nokia Corporation (NYSE:NOK) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $12.5671.

NOK has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Argus raised shares of Nokia from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Monday, April 27th. Wall Street Zen lowered Nokia from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Danske raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley restated an “overweight” rating on shares of Nokia in a report on Friday, May 22nd.

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently modified their holdings of NOK. Fifth Third Bancorp grew its position in Nokia by 248.7% in the 4th quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after acquiring an additional 2,721 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Nokia in the 3rd quarter valued at approximately $29,000. FNY Investment Advisers LLC increased its holdings in Nokia by 33,457.1% in the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock valued at $30,000 after buying an additional 4,684 shares during the last quarter. Dorato Capital Management acquired a new stake in shares of Nokia during the 4th quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nokia during the 3rd quarter worth about $34,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Stock Down 6.6%

Shares of NOK opened at $12.06 on Friday. The stock’s 50 day moving average is $13.79 and its two-hundred day moving average is $9.76. Nokia has a 12 month low of $4.00 and a 12 month high of $17.45. The firm has a market cap of $69.25 billion, a P/E ratio of 75.38, a PEG ratio of 2.51 and a beta of 1.17. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

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

About Nokia

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.