Nokia Oyj (NYSE:NOK - Get Free Report) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $4.44, but opened at $4.82. Nokia Oyj shares last traded at $4.78, with a volume of 11,197,429 shares traded.
The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on NOK shares. The Goldman Sachs Group cut Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price target on the stock. in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised Nokia Oyj from a "neutral" rating to an "overweight" rating and raised their price target for the company from $4.35 to $6.35 in a report on Monday, December 9th. Northland Securities reaffirmed an "outperform" rating and issued a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. Craig Hallum boosted their price target on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Nokia Oyj from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Nokia Oyj has an average rating of "Moderate Buy" and a consensus price target of $5.86.
Get Our Latest Stock Analysis on Nokia Oyj
Hedge Funds Weigh In On Nokia Oyj
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in shares of Nokia Oyj by 10.0% in the 3rd quarter. Pzena Investment Management LLC now owns 90,785,960 shares of the technology company's stock valued at $396,735,000 after purchasing an additional 8,261,407 shares during the period. FMR LLC lifted its position in shares of Nokia Oyj by 1,012.3% during the 3rd quarter. FMR LLC now owns 30,497,275 shares of the technology company's stock worth $133,273,000 after purchasing an additional 27,755,460 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Nokia Oyj by 2,505.3% in the third quarter. JPMorgan Chase & Co. now owns 730,311 shares of the technology company's stock valued at $3,191,000 after acquiring an additional 702,279 shares during the period. Bank of Montreal Can acquired a new position in shares of Nokia Oyj during the second quarter valued at about $2,501,000. Finally, QRG Capital Management Inc. raised its holdings in Nokia Oyj by 92.8% in the 3rd quarter. QRG Capital Management Inc. now owns 531,722 shares of the technology company's stock valued at $2,324,000 after acquiring an additional 255,893 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.
Nokia Oyj Stock Performance
The company has a quick ratio of 1.46, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $25.87 billion, a P/E ratio of 59.44, a PEG ratio of 5.72 and a beta of 1.06. The firm has a 50-day moving average of $4.42 and a 200 day moving average of $4.32.
About Nokia Oyj
(
Get Free Report)
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.
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