Craig Hallum Upgrades Nokia Oyj (NYSE:NOK) to Strong-Buy

Nokia Oyj (NYSE:NOK) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Northland Securities reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a research report on Friday. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nokia Oyj has a consensus rating of “Hold” and an average target price of $4.54.

Nokia Oyj Price Performance

Shares of NYSE:NOK opened at $4.75 on Thursday. The company has a market capitalization of $26.21 billion, a PE ratio of 29.66, a PEG ratio of 5.47 and a beta of 1.12. The business has a fifty day moving average price of $4.28 and a 200-day moving average price of $3.93. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $5.12 billion. As a group, equities analysts expect that Nokia Oyj will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

A number of institutional investors and hedge funds have recently modified their holdings of the business. SageView Advisory Group LLC purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at $48,000. CWM LLC raised its stake in shares of Nokia Oyj by 40.4% during the first quarter. CWM LLC now owns 17,542 shares of the technology company’s stock valued at $62,000 after acquiring an additional 5,049 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Nokia Oyj by 48.2% in the first quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock worth $33,000 after purchasing an additional 3,000 shares in the last quarter. Ballentine Partners LLC raised its position in Nokia Oyj by 36.1% during the 1st quarter. Ballentine Partners LLC now owns 42,984 shares of the technology company’s stock valued at $152,000 after purchasing an additional 11,392 shares in the last quarter. Finally, DGS Capital Management LLC lifted its holdings in shares of Nokia Oyj by 8.4% in the 1st quarter. DGS Capital Management LLC now owns 58,572 shares of the technology company’s stock worth $207,000 after buying an additional 4,544 shares during the period. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Company Profile

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.