Nokia Oyj (NYSE:NOK) Stock Rating Upgraded by StockNews.com

Nokia Oyj (NYSE:NOK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other research firms have also recently issued reports on NOK. JPMorgan Chase & Co. lowered their price objective on Nokia Oyj from $4.39 to $4.26 and set a “neutral” rating on the stock in a report on Tuesday. BNP Paribas assumed coverage on Nokia Oyj in a report on Friday, January 12th. They issued a “neutral” rating on the stock. Finally, Barclays cut Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Nokia Oyj presently has an average rating of “Hold” and an average price target of $4.42.

Nokia Oyj Price Performance

Shares of NYSE:NOK traded up $0.06 during trading on Friday, reaching $3.52. 17,394,443 shares of the company’s stock traded hands, compared to its average volume of 15,326,536. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.36. The company has a quick ratio of 1.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The firm has a market cap of $19.80 billion, a PE ratio of 29.29, a P/E/G ratio of 0.93 and a beta of 1.09. The company has a 50-day simple moving average of $3.53 and a 200-day simple moving average of $3.47.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Nokia Oyj had a return on equity of 7.60% and a net margin of 2.99%. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts predict that Nokia Oyj will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NOK. Franklin Resources Inc. raised its position in shares of Nokia Oyj by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock valued at $222,000 after buying an additional 2,444 shares during the period. Assetmark Inc. raised its position in shares of Nokia Oyj by 8.6% during the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock valued at $120,000 after buying an additional 2,788 shares during the period. M&T Bank Corp raised its position in shares of Nokia Oyj by 10.8% during the 3rd quarter. M&T Bank Corp now owns 28,825 shares of the technology company’s stock valued at $124,000 after buying an additional 2,819 shares during the period. First Affirmative Financial Network raised its position in shares of Nokia Oyj by 10.3% during the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after buying an additional 2,932 shares during the period. Finally, Banque Cantonale Vaudoise raised its position in shares of Nokia Oyj by 48.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after buying an additional 3,000 shares during the period. 5.28% of the stock is owned by hedge funds and other institutional investors.

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. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.