Nokia Corporation (NYSE:NOK) Stock Has Consensus Target Price of $13.41

Nokia Corporation (NYSE:NOK) has earned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.41.

NOK has been the topic of several research analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Nokia in a report on Tuesday, September 29th. JPMorgan Chase & Co. cut their price objective on Nokia from $21.00 to $20.50 and set an “overweight” rating for the company in a report on Friday, October 23rd. Citigroup reiterated a “buy” rating on shares of Nokia in a research report on Friday, October 23rd. S&P Equity Research reissued a “positive” rating on shares of Nokia in a report on Thursday, July 30th. Finally, Sanford C. Bernstein reissued a “neutral” rating on shares of Nokia in a research report on Thursday, July 23rd.

Nokia Stock Down 3.1%

Nokia stock opened at $8.29 on Friday. The firm has a market cap of $47.63 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.51 and a beta of 1.19. The stock has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $10.25. Nokia has a 12 month low of $5.86 and a 12 month high of $17.45. The company has a current ratio of 1.47, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities analysts predict that Nokia will post 0.39 EPS for the current fiscal year.

Institutional Trading of Nokia

Several hedge funds have recently bought and sold shares of the stock. ARGA Investment Management LP raised its position in shares of Nokia by 364.5% during the 3rd quarter. ARGA Investment Management LP now owns 21,815,690 shares of the technology company’s stock valued at $221,211,000 after purchasing an additional 17,119,411 shares during the period. Renaissance Technologies LLC increased its stake in Nokia by 131.3% in the 1st quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock worth $106,890,000 after buying an additional 7,546,000 shares in the last quarter. Annex Advisory Services LLC raised its holdings in Nokia by 1,710.9% during the third quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock valued at $45,309,000 after acquiring an additional 4,221,629 shares during the period. Atwood & Palmer Inc. raised its holdings in Nokia by 0.5% during the third quarter. Atwood & Palmer Inc. now owns 2,470,183 shares of the technology company’s stock valued at $25,048,000 after acquiring an additional 12,888 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in Nokia by 19.2% during the second quarter. Engineers Gate Manager LP now owns 1,864,080 shares of the technology company’s stock valued at $24,755,000 after acquiring an additional 300,807 shares during the period. Institutional investors own 5.28% of the company’s stock.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.