Nokia Oyj (NYSE:NOK) Downgraded by StockNews.com

StockNews.com cut shares of Nokia Oyj (NYSE:NOK) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Separately, Northland Securities reiterated an outperform rating and set a $6.50 price target (up from $6.00) on shares of Nokia Oyj in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj has an average rating of Hold and an average target price of $4.54.

Nokia Oyj Price Performance

Shares of NYSE NOK opened at $4.28 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.13. Nokia Oyj has a twelve month low of $2.94 and a twelve month high of $4.52. The stock has a 50 day moving average of $4.04 and a two-hundred day moving average of $3.82. The stock has a market cap of $23.64 billion, a P/E ratio of 26.75, a P/E/G ratio of 5.13 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $5.12 billion. On average, research analysts forecast that Nokia Oyj will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Nokia Oyj

Institutional investors and hedge funds have recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its stake in Nokia Oyj by 5.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 106,769,682 shares of the technology company’s stock worth $365,152,000 after buying an additional 5,087,927 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Nokia Oyj by 22.3% in the second quarter. Pzena Investment Management LLC now owns 82,524,553 shares of the technology company’s stock worth $311,943,000 after acquiring an additional 15,035,360 shares during the last quarter. Sei Investments Co. grew its holdings in Nokia Oyj by 1.5% in the first quarter. Sei Investments Co. now owns 2,674,435 shares of the technology company’s stock valued at $9,467,000 after purchasing an additional 40,264 shares during the period. TSP Capital Management Group LLC increased its position in Nokia Oyj by 89.2% during the first quarter. TSP Capital Management Group LLC now owns 2,179,467 shares of the technology company’s stock worth $7,715,000 after purchasing an additional 1,027,600 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Nokia Oyj by 98.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company’s stock valued at $6,193,000 after purchasing an additional 867,297 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

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.