Nokia Oyj (NYSE:NOK) Price Target Cut to $4.26

Nokia Oyj (NYSE:NOK) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $4.39 to $4.26 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 28.31% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Barclays lowered shares of Nokia Oyj from an “equal weight” rating to an “underweight” rating in a report on Friday, January 19th. BNP Paribas assumed coverage on shares of Nokia Oyj in a research note on Friday, January 12th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group cut shares of Nokia Oyj from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.10 to $3.40 in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Nokia Oyj presently has an average rating of “Hold” and an average price target of $4.42.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $3.32 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.66 and a quick ratio of 1.41. The firm has a market cap of $18.70 billion, a P/E ratio of 27.67, a P/E/G ratio of 0.92 and a beta of 1.09. The firm has a 50 day simple moving average of $3.54 and a 200 day simple moving average of $3.47. Nokia Oyj has a fifty-two week low of $2.94 and a fifty-two week high of $4.82.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings results on Thursday, January 25th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.66 billion. Nokia Oyj had a net margin of 2.99% and a return on equity of 7.60%. During the same period in the prior year, the business earned $0.16 EPS. Sell-side analysts predict that Nokia Oyj will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nokia Oyj

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in Nokia Oyj by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 47,908 shares of the technology company’s stock valued at $222,000 after acquiring an additional 2,444 shares in the last quarter. Assetmark Inc. lifted its position in Nokia Oyj by 8.6% in the 4th quarter. Assetmark Inc. now owns 35,092 shares of the technology company’s stock valued at $120,000 after acquiring an additional 2,788 shares in the last quarter. M&T Bank Corp lifted its position in Nokia Oyj by 10.8% in the 3rd quarter. M&T Bank Corp now owns 28,825 shares of the technology company’s stock valued at $124,000 after acquiring an additional 2,819 shares in the last quarter. First Affirmative Financial Network lifted its position in Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,932 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in Nokia Oyj by 48.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,229 shares of the technology company’s stock valued at $33,000 after acquiring an additional 3,000 shares in the last quarter. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Company Profile

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.