Nokia Oyj (NYSE:NOK) Given “Equal Weight” Rating at Barclays

Barclays reaffirmed their equal weight rating on shares of Nokia Oyj (NYSE:NOK) in a research note issued to investors on Monday morning, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank restated a buy rating on shares of Nokia Oyj in a report on Monday. ValuEngine cut Nokia Oyj from a hold rating to a sell rating in a research report on Wednesday, April 29th. Northland Securities started coverage on Nokia Oyj in a research report on Tuesday, July 14th. They issued a buy rating and a $6.00 price target for the company. JPMorgan Chase & Co. downgraded Nokia Oyj from an overweight rating to a neutral rating in a research report on Wednesday, July 8th. Finally, MKM Partners reduced their target price on shares of Nokia Oyj from $6.00 to $5.00 and set a buy rating for the company in a report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nokia Oyj has an average rating of Hold and a consensus target price of $4.59.

NYSE:NOK traded up $0.05 during midday trading on Monday, hitting $5.11. The stock had a trading volume of 1,130,616 shares, compared to its average volume of 39,279,820. The stock has a 50-day moving average of $4.36 and a 200 day moving average of $3.85. The company has a market capitalization of $28.70 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 1.21 and a beta of 0.58. Nokia Oyj has a one year low of $2.34 and a one year high of $5.45. The company has a quick ratio of 1.14, a current ratio of 1.37 and a debt-to-equity ratio of 0.30.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings results on Friday, July 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.63 billion. Nokia Oyj had a return on equity of 9.24% and a net margin of 2.76%. On average, sell-side analysts anticipate that Nokia Oyj will post 0.25 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NOK. Optimum Investment Advisors purchased a new stake in Nokia Oyj during the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its holdings in shares of Nokia Oyj by 113.0% during the second quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock valued at $30,000 after buying an additional 3,688 shares during the last quarter. Cape Cod Five Cents Savings Bank purchased a new stake in shares of Nokia Oyj during the first quarter valued at $31,000. Wealthsource Partners LLC acquired a new position in shares of Nokia Oyj in the 1st quarter valued at $32,000. Finally, Level Four Advisory Services LLC purchased a new position in Nokia Oyj in the 1st quarter worth $32,000. Institutional investors own 4.49% of the company’s stock.

About Nokia Oyj

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals, including public safety and Internet of Things (IoT).

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