Nokia Oyj (NYSE:NOK) Receives “Buy” Rating from Deutsche Bank

Deutsche Bank restated their buy rating on shares of Nokia Oyj (NYSE:NOK) in a research report report published on Monday morning, The Fly reports.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity reaffirmed a buy rating and set a $5.50 price target on shares of Nokia Oyj in a research report on Thursday, April 30th. Credit Suisse Group reiterated a neutral rating on shares of Nokia Oyj in a research report on Monday. Northland Securities initiated coverage on Nokia Oyj in a report on Tuesday, July 14th. They issued a buy rating and a $6.00 price target for the company. MKM Partners dropped their price objective on shares of Nokia Oyj from $6.00 to $5.00 and set a buy rating on the stock in a research note on Friday, May 1st. Finally, Morgan Stanley reaffirmed an equal weight rating on shares of Nokia Oyj in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $4.59.

NYSE:NOK traded up $0.06 during midday trading on Monday, hitting $5.12. The company’s stock had a trading volume of 1,119,807 shares, compared to its average volume of 39,279,820. Nokia Oyj has a fifty-two week low of $2.34 and a fifty-two week high of $5.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.37 and a quick ratio of 1.14. The firm has a market cap of $28.70 billion, a P/E ratio of 42.17, a P/E/G ratio of 1.21 and a beta of 0.58. The firm’s 50 day moving average is $4.36 and its 200-day moving average is $3.85.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Friday, July 31st. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate 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 net margin of 2.76% and a return on equity of 9.24%. As a group, analysts forecast that Nokia Oyj will post 0.25 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NOK. Sunbelt Securities Inc. acquired a new stake in shares of Nokia Oyj in the fourth quarter valued at about $6,255,000. Parallel Advisors LLC raised its position in shares of Nokia Oyj by 113.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock worth $30,000 after purchasing an additional 3,688 shares during the last quarter. Optimum Investment Advisors purchased a new position in Nokia Oyj in the 1st quarter valued at about $25,000. Verus Capital Partners LLC acquired a new stake in Nokia Oyj in the 4th quarter worth about $33,000. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in Nokia Oyj during the 1st quarter worth approximately $31,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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