Nokia Oyj (NYSE:NOK) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities analysts have also weighed in on the company. Credit Suisse Group raised Nokia Oyj from an “underperform” rating to a “buy” rating and increased their target price for the company from $5.56 to $7.00 in a research note on Wednesday, September 19th. Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia Oyj in a research note on Monday, September 17th. BNP Paribas lowered Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. Finally, Exane BNP Paribas lowered Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.86.

Shares of NOK opened at $5.62 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.14 and a debt-to-equity ratio of 0.18. Nokia Oyj has a 12-month low of $4.51 and a 12-month high of $6.41. The firm has a market cap of $31.09 billion, a PE ratio of 15.11, a PEG ratio of 2.87 and a beta of 0.86.

Nokia Oyj (NYSE:NOK) last released its earnings results on Thursday, July 26th. The technology company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Nokia Oyj had a positive return on equity of 9.10% and a negative net margin of 4.56%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts anticipate that Nokia Oyj will post 0.26 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Miller Howard Investments Inc. NY raised its position in shares of Nokia Oyj by 2,240.6% during the second quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock worth $55,269,000 after purchasing an additional 9,201,275 shares during the period. Natixis raised its position in shares of Nokia Oyj by 584.2% during the second quarter. Natixis now owns 5,000,974 shares of the technology company’s stock worth $28,756,000 after purchasing an additional 4,270,000 shares during the period. Wells Fargo & Company MN raised its position in shares of Nokia Oyj by 528.5% during the second quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock worth $10,636,000 after purchasing an additional 1,555,431 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Nokia Oyj by 35.0% during the second quarter. Tocqueville Asset Management L.P. now owns 4,681,323 shares of the technology company’s stock worth $26,918,000 after purchasing an additional 1,212,497 shares during the period. Finally, Millennium Management LLC raised its position in shares of Nokia Oyj by 17.0% during the first quarter. Millennium Management LLC now owns 5,177,007 shares of the technology company’s stock worth $28,318,000 after purchasing an additional 752,977 shares during the period. 6.83% of the stock is currently owned by institutional investors.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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