Nokia Corporation (NYSE:NOK – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $12.5671.
NOK has been the topic of a number of recent research reports. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th.
Check Out Our Latest Research Report on NOK
Nokia Trading Up 0.6%
Nokia (NYSE:NOK – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, research analysts anticipate that Nokia will post 0.39 EPS for the current year.
Institutional Trading of Nokia
Several institutional investors and hedge funds have recently added to or reduced their stakes in NOK. Analog Century Management LP purchased a new position in shares of Nokia in the 4th quarter valued at approximately $104,244,000. Arrowstreet Capital Limited Partnership raised its stake 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 during the last quarter. ARGA Investment Management LP raised its stake in shares of Nokia by 166.4% during the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Nokia by 14.5% during the fourth quarter. Pzena Investment Management LLC now owns 91,942,507 shares of the technology company’s stock worth $594,868,000 after purchasing an additional 11,612,590 shares during the period. Finally, Alyeska Investment Group L.P. grew its position 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 valued at $113,161,000 after buying an additional 11,035,002 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.
Nokia Company Profile
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.
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