Nokia Oyj (NYSE:NOK) Upgraded to “Buy” at Credit Suisse Group

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Credit Suisse Group upgraded shares of Nokia Oyj (NYSE:NOK) from an underperform rating to a buy rating in a report published on Wednesday, September 19th, MarketBeat reports. They currently have $7.00 price objective on the technology company’s stock, up from their previous price objective of $5.56.

A number of other research firms also recently weighed in on NOK. Nordea Equity Research downgraded Nokia Oyj from a buy rating to a hold rating in a research report on Tuesday, May 29th. ValuEngine upgraded Nokia Oyj from a sell rating to a hold rating in a research report on Wednesday, June 13th. Santander downgraded Nokia Oyj from a hold rating to an underperform rating in a research report on Monday, June 18th. Exane BNP Paribas upgraded Nokia Oyj from an underperform rating to a neutral rating in a research report on Tuesday, June 19th. Finally, BNP Paribas upgraded Nokia Oyj from an underperform rating to a neutral rating in a research report on Tuesday, June 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Nokia Oyj currently has an average rating of Hold and an average price target of $5.86.

Nokia Oyj stock traded up $0.10 on Wednesday, reaching $5.25. The company’s stock had a trading volume of 13,415,076 shares, compared to its average volume of 14,886,898. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.14 and a current ratio of 1.37. The firm has a market cap of $31.42 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.90 and a beta of 0.86. Nokia Oyj has a twelve month low of $4.51 and a twelve month high of $6.41.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.18 billion. Nokia Oyj had a positive return on equity of 9.10% and a negative net margin of 4.56%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts predict that Nokia Oyj will post 0.26 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. BB&T Securities LLC bought a new stake in Nokia Oyj in the second quarter valued at about $105,000. United Capital Financial Advisers LLC bought a new stake in Nokia Oyj in the first quarter valued at about $107,000. OLD National Bancorp IN bought a new stake in Nokia Oyj in the second quarter valued at about $129,000. Cetera Advisor Networks LLC increased its holdings in Nokia Oyj by 77.4% in the first quarter. Cetera Advisor Networks LLC now owns 26,232 shares of the technology company’s stock valued at $141,000 after purchasing an additional 11,443 shares during the last quarter. Finally, Suntrust Banks Inc. increased its holdings in Nokia Oyj by 75.7% in the first quarter. Suntrust Banks Inc. now owns 31,580 shares of the technology company’s stock valued at $171,000 after purchasing an additional 13,606 shares during the last quarter. Institutional investors and hedge funds own 6.83% of the company’s stock.

Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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