Nokia Co. (NYSE:NOK - Get Rating) has earned a consensus recommendation of "Buy" from the eighteen analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.62.
Several research firms have recently commented on NOK. StockNews.com downgraded Nokia from a "buy" rating to a "hold" rating in a report on Friday, March 4th. Zacks Investment Research upgraded Nokia from a "sell" rating to a "hold" rating and set a $7.00 price objective on the stock in a report on Monday, February 7th. TheStreet upgraded Nokia from a "c" rating to a "b-" rating in a report on Tuesday, February 8th. Finally, Morgan Stanley began coverage on Nokia in a report on Monday, December 20th. They issued an "overweight" rating and a $7.50 price objective on the stock.
NYSE NOK opened at $4.81 on Friday. The stock's 50-day simple moving average is $5.61 and its two-hundred day simple moving average is $5.74. Nokia has a twelve month low of $3.90 and a twelve month high of $6.40. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.11 and a beta of 0.80.
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Nokia (NYSE:NOK - Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The technology company reported $0.15 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.12 by $0.03. Nokia had a return on equity of 13.43% and a net margin of 7.27%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter last year, the business posted $0.17 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts expect that Nokia will post 0.41 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of NOK. Renaissance Technologies LLC boosted its position in shares of Nokia by 568.4% in the 4th quarter. Renaissance Technologies LLC now owns 23,189,380 shares of the technology company's stock worth $144,238,000 after purchasing an additional 19,720,000 shares in the last quarter. Capital International Investors bought a new stake in shares of Nokia in the 4th quarter worth approximately $52,361,000. Stonegate Investment Group LLC bought a new stake in shares of Nokia in the 4th quarter worth approximately $35,134,000. Bank of New York Mellon Corp boosted its position in shares of Nokia by 23.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 25,293,502 shares of the technology company's stock worth $137,850,000 after purchasing an additional 4,763,963 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Nokia by 125.9% in the 4th quarter. Point72 Asset Management L.P. now owns 5,945,700 shares of the technology company's stock worth $36,982,000 after purchasing an additional 3,314,200 shares in the last quarter. 14.65% of the stock is currently owned by hedge funds and other institutional investors.
About Nokia (Get Rating)
Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Networks, Nokia Software, Nokia Technologies, and Group Common and Other. The Networks segment consists of mobile networks, services, fixed networks, and optical networks.
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