Nokia Corporation (NYSE:NOK) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Nokia Corporation (NYSE:NOK) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.12.

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. Rosenblatt Securities initiated coverage on Nokia in a report on Tuesday, September 15th. They set a “buy” rating and a $15.00 price target for the company. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Finally, B. Riley Financial began coverage on shares of Nokia in a research note on Thursday, September 17th. They issued a “buy” rating and a $15.00 price target on the stock.

Institutional Investors Weigh In On Nokia

A number of institutional investors have recently modified their holdings of the business. Oak Grove Capital LLC increased its position in shares of Nokia by 202.9% during the 3rd quarter. Oak Grove Capital LLC now owns 157,500 shares of the technology company’s stock valued at $1,597,000 after purchasing an additional 105,500 shares during the last quarter. Capital Advisors Wealth Management LLC purchased a new position in Nokia in the third quarter valued at about $122,000. Wedmont Private Capital bought a new position in shares of Nokia during the 3rd quarter valued at approximately $110,000. Athena Wealth Management LLC bought a new stake in shares of Nokia in the 3rd quarter worth approximately $180,000. Finally, Legacy Wealth Asset Management LLC bought a new stake in shares of Nokia in the 3rd quarter worth approximately $1,359,000. Institutional investors own 5.28% of the company’s stock.

Nokia Stock Performance

NOK stock opened at $9.91 on Tuesday. Nokia has a 1-year low of $5.19 and a 1-year high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a market cap of $56.93 billion, a PE ratio of 70.82, a P/E/G ratio of 1.23 and a beta of 1.19. The business’s 50-day moving average price is $10.25 and its two-hundred day moving average price is $11.41.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Nokia will post 0.39 earnings per share for the current year.

Nokia Company Profile

Nokia Oyj is a Finland-based technology company that develops and supplies communications networking equipment, software and related services. Its offerings support mobile and fixed broadband networks, including radio access networks, core networks, fiber and other fixed-access technologies, IP routing, optical networking, private wireless systems, cloud networking and network automation.

The company serves telecommunications operators, governments, enterprises and other organizations worldwide.