Analysts Set Nokia Oyj (NOK) Target Price at $6.03

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Nokia Oyj (NYSE:NOK) has earned an average rating of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.03.

Several equities analysts have recently weighed in on the company. Santander downgraded Nokia Oyj from a “hold” rating to an “underperform” rating in a report on Monday, June 18th. Zacks Investment Research upgraded Nokia Oyj from a “sell” rating to a “hold” rating in a report on Monday, July 16th. ValuEngine downgraded Nokia Oyj from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. BMO Capital Markets restated a “hold” rating and set a $5.00 price target on shares of Nokia Oyj in a report on Thursday, July 26th. Finally, BNP Paribas upgraded Nokia Oyj from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 19th.

Large investors have recently modified their holdings of the company. Ariel Investments LLC increased its holdings in Nokia Oyj by 0.8% in the 2nd quarter. Ariel Investments LLC now owns 24,242,239 shares of the technology company’s stock worth $139,393,000 after buying an additional 187,280 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in Nokia Oyj by 2,240.6% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock worth $55,269,000 after buying an additional 9,201,275 shares in the last quarter. Northern Trust Corp increased its holdings in Nokia Oyj by 0.3% in the 2nd quarter. Northern Trust Corp now owns 5,583,259 shares of the technology company’s stock worth $32,102,000 after buying an additional 18,115 shares in the last quarter. Millennium Management LLC increased its holdings in Nokia Oyj by 17.0% in the 1st quarter. Millennium Management LLC now owns 5,177,007 shares of the technology company’s stock worth $28,318,000 after buying an additional 752,977 shares in the last quarter. Finally, Natixis increased its holdings in Nokia Oyj by 584.2% in the 2nd quarter. Natixis now owns 5,000,974 shares of the technology company’s stock worth $28,756,000 after buying an additional 4,270,000 shares in the last quarter. Hedge funds and other institutional investors own 6.83% of the company’s stock.

Shares of Nokia Oyj stock opened at $5.25 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.37 and a debt-to-equity ratio of 0.18. The firm has a market cap of $31.42 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 2.90 and a beta of 0.86. Nokia Oyj has a 12 month low of $4.51 and a 12 month high of $6.41.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.04 EPS 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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Sell-side analysts anticipate that Nokia Oyj will post 0.26 EPS for the current year.

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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