StockNews.com Begins Coverage on Nokia Oyj (NYSE:NOK)

StockNews.com began coverage on shares of Nokia Oyj (NYSE:NOK – Get Rating) in a research report released on Thursday morning. The brokerage issued a strong-buy rating on the technology company’s stock.

Several other research firms also recently commented on NOK. TheStreet upgraded Nokia Oyj from a c+ rating to a b- rating in a report on Wednesday, March 8th. Raymond James raised their price objective on Nokia Oyj from $6.50 to $7.00 and gave the stock an outperform rating in a report on Friday, January 27th. UBS Group downgraded Nokia Oyj from a buy rating to a neutral rating in a report on Tuesday, January 31st. Finally, DNB Markets cut Nokia Oyj from a buy rating to a hold rating in a research report on Tuesday, January 17th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $5.88.

Nokia Oyj Price Performance

Shares of NOK stock opened at $4.52 on Thursday. Nokia Oyj has a 52-week low of $4.08 and a 52-week high of $5.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.59. The firm has a market capitalization of $25.46 billion, a P/E ratio of 5.79, a P/E/G ratio of 5.57 and a beta of 0.97. The stock has a 50 day moving average price of $4.73 and a 200 day moving average price of $4.67.

Nokia Oyj (NYSE:NOK – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.10 billion. Nokia Oyj had a return on equity of 12.31% and a net margin of 16.73%. Nokia Oyj’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. As a group, sell-side analysts predict that Nokia Oyj will post 0.46 earnings per share for the current year.

Institutional Trading of Nokia Oyj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its position in Nokia Oyj by 8.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 84,525,880 shares of the technology company’s stock worth $360,925,000 after acquiring an additional 6,733,618 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Nokia Oyj by 9.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 40,918,648 shares of the technology company’s stock worth $223,416,000 after acquiring an additional 3,569,621 shares during the period. Millennium Management LLC lifted its holdings in shares of Nokia Oyj by 55.0% in the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock valued at $128,727,000 after buying an additional 9,842,934 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Nokia Oyj by 11.5% in the 4th quarter. Renaissance Technologies LLC now owns 21,166,280 shares of the technology company’s stock valued at $98,212,000 after buying an additional 2,176,100 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Nokia Oyj by 235.5% in the 2nd quarter. Bank of Montreal Can now owns 17,376,848 shares of the technology company’s stock valued at $84,589,000 after buying an additional 12,198,025 shares during the period. Institutional investors and hedge funds own 7.57% of the company’s stock.

About Nokia Oyj

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Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The Mobile Networks segment offers technologies for Radio Access Networks (RAN) as well as Microwave Radio Links (MWR) for transport networks.