Analysts Set Nokia Oyj (NOK) Target Price at $6.03
Shares of Nokia Oyj (NYSE:NOK) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $6.03.
A number of brokerages have commented on NOK. Zacks Investment Research upgraded shares of Nokia Oyj from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Exane BNP Paribas lowered Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. BNP Paribas lowered Nokia Oyj from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 19th. Credit Suisse Group raised Nokia Oyj from an “underperform” rating to a “buy” rating and increased their price objective for the company from $5.56 to $7.00 in a research note on Wednesday, September 19th. Finally, ValuEngine raised Nokia Oyj from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th.
Several large investors have recently added to or reduced their stakes in NOK. Miller Howard Investments Inc. NY boosted its stake in shares of Nokia Oyj by 2,240.6% during the second quarter. Miller Howard Investments Inc. NY now owns 9,611,936 shares of the technology company’s stock valued at $55,269,000 after purchasing an additional 9,201,275 shares during the period. Natixis boosted its stake in shares of Nokia Oyj by 584.2% during the second quarter. Natixis now owns 5,000,974 shares of the technology company’s stock valued at $28,756,000 after purchasing an additional 4,270,000 shares during the period. Alkeon Capital Management LLC purchased a new stake in shares of Nokia Oyj during the first quarter valued at approximately $12,034,000. Wells Fargo & Company MN boosted its stake in shares of Nokia Oyj by 528.5% during the second quarter. Wells Fargo & Company MN now owns 1,849,714 shares of the technology company’s stock valued at $10,636,000 after purchasing an additional 1,555,431 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in Nokia Oyj by 35.0% in the second quarter. Tocqueville Asset Management L.P. now owns 4,681,323 shares of the technology company’s stock worth $26,918,000 after acquiring an additional 1,212,497 shares during the period. 6.83% of the stock is owned by hedge funds and other institutional investors.
Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Nokia Oyj had a negative net margin of 4.56% and a positive return on equity of 9.10%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Nokia Oyj will post 0.26 EPS for the current fiscal year.
About Nokia Oyj
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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