Brokerages Set Nokia Corporation (NYSE:NOK) Price Target at $12.57

Shares of Nokia Corporation (NYSE:NOK) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.5671.

Several research firms recently weighed in on NOK. Danske upgraded Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their price target on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Wall Street Zen downgraded Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Friday, May 15th.

Hedge Funds Weigh In On Nokia

A number of hedge funds have recently modified their holdings of NOK. Analog Century Management LP purchased a new position in shares of Nokia in the fourth quarter valued at about $104,244,000. Arrowstreet Capital Limited Partnership grew its position in shares of Nokia by 50.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,424,695 shares of the technology company’s stock worth $208,873,000 after purchasing an additional 14,482,665 shares in the last quarter. ARGA Investment Management LP raised its stake in Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock valued at $163,921,000 after purchasing an additional 12,734,021 shares during the period. Pzena Investment Management LLC raised its stake in Nokia by 14.5% during the 4th quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock valued at $594,868,000 after purchasing an additional 11,612,590 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in Nokia by 171.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 17,490,101 shares of the technology company’s stock worth $113,161,000 after purchasing an additional 11,035,002 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors.

Nokia Price Performance

NOK opened at $10.21 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. Nokia has a 1-year low of $4.23 and a 1-year high of $17.45. The company has a market capitalization of $58.63 billion, a PE ratio of 72.93, a PEG ratio of 1.20 and a beta of 1.19. The firm’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $10.73.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. As a group, equities analysts forecast that Nokia will post 0.39 EPS for the current year.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.