Nokia Oyj (NYSE:NOK) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Nokia Oyj (NYSE:NOK) from an overweight rating to a neutral rating in a report issued on Wednesday morning, BenzingaRatingsTable reports.

NOK has been the topic of several other reports. Goldman Sachs Group raised Nokia Oyj from a sell rating to a neutral rating and set a $2.90 price objective on the stock in a research note on Friday, March 27th. ValuEngine lowered Nokia Oyj from a hold rating to a sell rating in a research report on Wednesday, April 29th. MKM Partners dropped their target price on Nokia Oyj from $6.00 to $5.00 and set a buy rating for the company in a research report on Friday, May 1st. Northland Securities reiterated a buy rating and issued a $6.00 price target on shares of Nokia Oyj in a report on Friday, April 17th. Finally, Canaccord Genuity reiterated a buy rating and issued a $5.50 price target on shares of Nokia Oyj in a report on Thursday, April 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Nokia Oyj has a consensus rating of Buy and an average price target of $4.59.

NYSE:NOK opened at $4.12 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.37 and a debt-to-equity ratio of 0.30. The business’s 50-day simple moving average is $4.24 and its two-hundred day simple moving average is $3.78. The stock has a market cap of $23.40 billion, a PE ratio of 13.90, a P/E/G ratio of 1.09 and a beta of 0.56. Nokia Oyj has a 52 week low of $2.34 and a 52 week high of $5.77.

Nokia Oyj (NYSE:NOK) last issued its earnings results on Thursday, April 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Nokia Oyj had a return on equity of 9.14% and a net margin of 1.43%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Sell-side analysts anticipate that Nokia Oyj will post 0.25 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of NOK. Jane Street Group LLC boosted its position in Nokia Oyj by 4,643.3% during the fourth quarter. Jane Street Group LLC now owns 5,694,280 shares of the technology company’s stock worth $21,125,000 after purchasing an additional 5,574,232 shares in the last quarter. Morgan Stanley lifted its holdings in Nokia Oyj by 12.2% during the first quarter. Morgan Stanley now owns 5,341,699 shares of the technology company’s stock valued at $16,560,000 after purchasing an additional 580,096 shares in the last quarter. Credit Suisse AG grew its position in shares of Nokia Oyj by 538.9% in the fourth quarter. Credit Suisse AG now owns 4,192,770 shares of the technology company’s stock valued at $15,555,000 after purchasing an additional 3,536,541 shares during the period. Formula Growth Ltd. raised its position in shares of Nokia Oyj by 91.3% during the 4th quarter. Formula Growth Ltd. now owns 4,170,000 shares of the technology company’s stock worth $15,471,000 after purchasing an additional 1,990,000 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Nokia Oyj by 188.2% in the 4th quarter. Penserra Capital Management LLC now owns 3,084,130 shares of the technology company’s stock valued at $11,966,000 after buying an additional 2,014,022 shares in the last quarter. Hedge funds and other institutional investors own 4.50% of the company’s stock.

Nokia Oyj Company Profile

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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