Nokia Oyj (NYSE:NOK – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Several other equities research analysts also recently commented on the company. TheStreet downgraded Nokia Oyj from a “b-” rating to a “c+” rating in a report on Monday. Raymond James lowered their price target on shares of Nokia Oyj from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nokia Oyj currently has a consensus rating of “Hold” and an average target price of $5.73.
Nokia Oyj Stock Performance
NYSE:NOK opened at $4.24 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 5.26 and a beta of 0.97. The firm’s fifty day simple moving average is $4.21 and its 200 day simple moving average is $4.56. Nokia Oyj has a twelve month low of $3.93 and a twelve month high of $5.28.
Nokia Oyj (NYSE:NOK – Get Rating) last posted its earnings results on Wednesday, April 19th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.74 billion. Nokia Oyj had a net margin of 16.78% and a return on equity of 11.57%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, equities research analysts expect that Nokia Oyj will post 0.44 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nokia Oyj
Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Nokia Oyj in the third quarter worth $16,575,000. CIBC Private Wealth Group LLC bought a new position in Nokia Oyj in the fourth quarter worth about $8,551,000. Profund Advisors LLC lifted its holdings in Nokia Oyj by 14.3% in the fourth quarter. Profund Advisors LLC now owns 88,401 shares of the technology company’s stock worth $410,000 after acquiring an additional 11,086 shares during the last quarter. MAI Capital Management bought a new position in Nokia Oyj in the fourth quarter worth about $141,000. Finally, Tegean Capital Management LLC bought a new position in Nokia Oyj in the third quarter worth about $641,000. Institutional investors and hedge funds own 7.57% of the company’s stock.
About Nokia Oyj
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.