Analysts Set Nokia Oyj (NYSE:NOK) Target Price at $7.12

Nokia Oyj (NYSE:NOKGet Rating) has received a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.12.

Several analysts recently issued reports on NOK shares. UBS Group decreased their target price on Nokia Oyj from €6.20 ($6.53) to €5.80 ($6.11) and set a “buy” rating on the stock in a research note on Friday, April 29th. Raymond James raised Nokia Oyj from a “market perform” rating to an “outperform” rating and set a $6.50 target price on the stock in a research note on Monday, March 14th. Jefferies Financial Group initiated coverage on Nokia Oyj in a research note on Thursday, March 17th. They issued a “buy” rating on the stock. TheStreet downgraded Nokia Oyj from a “b-” rating to a “c” rating in a research note on Thursday, April 28th. Finally, Zacks Investment Research raised Nokia Oyj from a “sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a research note on Monday, February 7th.

Institutional investors have recently made changes to their positions in the company. UMB Bank N A MO purchased a new position in shares of Nokia Oyj in the 4th quarter worth approximately $26,000. Credit Agricole S A purchased a new position in shares of Nokia Oyj in the 4th quarter worth approximately $27,000. Nauset Wealth Management. LLC purchased a new position in shares of Nokia Oyj in the 1st quarter worth approximately $27,000. Masso Torrence Wealth Management Inc. purchased a new position in shares of Nokia Oyj in the 4th quarter worth approximately $34,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Nokia Oyj by 406.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 6,468 shares of the technology company’s stock valued at $35,000 after acquiring an additional 5,192 shares during the period. Hedge funds and other institutional investors own 16.25% of the company’s stock.

NYSE NOK opened at $5.33 on Monday. The stock’s 50-day moving average price is $5.21 and its 200-day moving average price is $5.61. The company has a quick ratio of 1.42, a current ratio of 1.58 and a debt-to-equity ratio of 0.25. Nokia Oyj has a 52 week low of $4.51 and a 52 week high of $6.40. The company has a market capitalization of $30.03 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.16 and a beta of 0.81.

Nokia Oyj (NYSE:NOKGet Rating) last issued its earnings results on Thursday, April 28th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.27 billion. Nokia Oyj had a return on equity of 12.81% and a net margin of 7.01%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. Research analysts anticipate that Nokia Oyj will post 0.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 17th. Stockholders of record on Tuesday, May 3rd will be issued a $0.021 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, May 2nd. Nokia Oyj’s dividend payout ratio (DPR) is 3.13%.

About Nokia Oyj (Get Rating)

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks.

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Analyst Recommendations for Nokia Oyj (NYSE:NOK)

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