Nokia Oyj (NYSE:NOK) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Friday, January 5th, Marketbeat Ratings reports. They currently have a $5.00 price target on the technology company’s stock, up from their prior price target of $4.89. Credit Suisse Group’s price target would indicate a potential upside of 2.67% from the company’s current price.
A number of other research analysts have also commented on the company. BNP Paribas lowered Nokia Oyj from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $5.00 to $3.90 in a report on Monday, December 4th. Argus lowered Nokia Oyj from a “buy” rating to a “hold” rating and upped their target price for the company from $4.76 to $4.91 in a research note on Monday, October 30th. Canaccord Genuity cut their target price on Nokia Oyj from $7.00 to $5.50 and set a “hold” rating for the company in a research note on Friday, October 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of Nokia Oyj in a research note on Friday, October 27th. Finally, Vetr upgraded Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.37 target price for the company in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.51.
Shares of Nokia Oyj (NYSE NOK) traded up $0.05 during midday trading on Friday, hitting $4.87. The company had a trading volume of 7,046,692 shares, compared to its average volume of 10,205,598. The company has a market cap of $28,145.93, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. Nokia Oyj has a 1-year low of $4.50 and a 1-year high of $6.65. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.
Nokia Oyj (NYSE:NOK) last posted its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Nokia Oyj had a positive return on equity of 9.88% and a negative net margin of 2.09%. The firm had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company earned $0.04 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. analysts predict that Nokia Oyj will post 0.33 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Pacer Advisors Inc. raised its position in shares of Nokia Oyj by 319.6% during the second quarter. Pacer Advisors Inc. now owns 63,717 shares of the technology company’s stock worth $393,000 after purchasing an additional 48,531 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Nokia Oyj by 47.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 35,401 shares of the technology company’s stock worth $218,000 after buying an additional 11,371 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Nokia Oyj by 4.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 191,385 shares of the technology company’s stock worth $1,179,000 after buying an additional 8,307 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nokia Oyj by 4,241.3% during the second quarter. JPMorgan Chase & Co. now owns 2,223,920 shares of the technology company’s stock worth $13,699,000 after buying an additional 2,172,693 shares in the last quarter. Finally, CIBC World Markets Inc. grew its holdings in shares of Nokia Oyj by 26.7% during the second quarter. CIBC World Markets Inc. now owns 26,594 shares of the technology company’s stock worth $164,000 after buying an additional 5,610 shares in the last quarter. 5.83% of the stock is currently owned by institutional investors.
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About Nokia Oyj
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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