Nokia (NYSE:NOK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports. The brokerage presently has a $7.00 price objective on the technology company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 22.16% from the stock’s previous close.
According to Zacks, “Nokia reported mixed fourth-quarter 2021 results, wherein the bottom line beat the Zacks Consensus Estimate, but the top line missed the same. The company has made meaningful progress in its three-phased journey of value creation. Its focus on capital allocation and technology leadership is likely to help it grow profitably. It aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments. It has been developing its 5G portfolio, strengthening AirScale and advancing the capabilities of its ReefShark chipset. However, supply-chain constraints and headwinds in the Mobile Networks segment in North America remain concerns. It is susceptible to intense competition and transportation capacity problems. Its international footprint exposes it to economic disruptions, which can hurt profits.”
Several other research analysts have also recently issued reports on NOK. Barclays restated an “equal weight” rating on shares of Nokia in a research note on Monday, November 1st. Morgan Stanley began coverage on shares of Nokia in a research note on Monday, December 20th. They set an “overweight” rating and a $7.50 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a research note on Friday, October 29th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $7.30.
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Shares of NOK stock traded up $0.02 during trading hours on Monday, reaching $5.73. The company’s stock had a trading volume of 825,450 shares, compared to its average volume of 29,114,309. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $32.29 billion, a P/E ratio of -16.34, a P/E/G ratio of 1.37 and a beta of 0.79. The firm’s fifty day simple moving average is $5.93 and its 200 day simple moving average is $5.86. Nokia has a one year low of $3.75 and a one year high of $6.40.
Nokia (NYSE:NOK) last released its quarterly earnings results on Wednesday, February 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.48 billion. Nokia had a positive return on equity of 15.51% and a negative net margin of 7.37%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. As a group, equities research analysts forecast that Nokia will post 0.39 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new position in Nokia in the 1st quarter valued at $9,420,000. OLD Mission Capital LLC increased its stake in Nokia by 627.5% in the 3rd quarter. OLD Mission Capital LLC now owns 573,534 shares of the technology company’s stock worth $2,243,000 after buying an additional 494,694 shares during the period. BlackRock Inc. increased its stake in Nokia by 35.3% in the 2nd quarter. BlackRock Inc. now owns 3,294,745 shares of the technology company’s stock worth $17,529,000 after buying an additional 859,553 shares during the period. SG Americas Securities LLC lifted its holdings in Nokia by 209.0% during the 2nd quarter. SG Americas Securities LLC now owns 46,695 shares of the technology company’s stock valued at $248,000 after buying an additional 31,581 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Nokia by 79.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,575 shares of the technology company’s stock valued at $7,095,000 after buying an additional 592,332 shares during the period. 8.22% of the stock is owned by institutional investors.
About Nokia
Nokia Oyj engages in the provision of network infrastructure, technology, and software services. It operates through the following segments: Networks, Nokia Software, Nokia Technologies, and Group Common and Other. The Networks segment comprises mobile networks, services, fixed networks, and optical networks.
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