Nokia Corporation (NYSE:NOK) Receives $13.83 Consensus Target Price from Brokerages

Nokia Corporation (NYSE:NOK) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.8283.

A number of equities research analysts have weighed in on the company. Northland Securities set a $20.00 target price on Nokia in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research report on Friday, September 4th. JPMorgan Chase & Co. upped their price objective on Nokia from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Danske raised Nokia from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd.

Key Headlines Impacting Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: AI and edge-computing expansion: Nokia launched its Cognitive Operations platform, combining mission-critical communications, edge computing and operational AI for mining, construction, public safety and defense customers. The offering could create new enterprise revenue opportunities beyond traditional telecom equipment. Nokia launches AI and edge platform
• Positive Sentiment: New enterprise partnership: Nokia and Rajant are combining resilient Kinetic Mesh networking, distributed edge AI and Nokia’s Cognitive Operations technology for mission-critical industrial applications. The collaboration expands Nokia’s potential addressable market in autonomous and remote operations. Rajant and Nokia collaboration
• Positive Sentiment: Network innovation with Orange: Nokia and Orange reported a successful network-tomography trial that uses AI and optical-network data to assess network health. The technology may improve fault detection, maintenance efficiency and demand for Nokia’s software and services. Nokia and Orange network tomography trial
• Positive Sentiment: 5G and private-network opportunity: An industry report said private LTE/5G deployments rose sharply to 6,500 networks, with the market forecast to approach $12 billion by 2030. Nokia is identified as a major participant, supporting its long-term enterprise-network opportunity. Private LTE/5G market report
• Positive Sentiment: UK rollout progress: Nokia is making progress with VodafoneThree’s advanced 5G site deployment in the United Kingdom, providing evidence of ongoing carrier demand and potential equipment revenue. VodafoneThree and Nokia UK rollout

Hedge Funds Weigh In On Nokia

Several hedge funds have recently made changes to their positions in NOK. J2 Capital Management Inc increased its holdings in shares of Nokia by 2.0% in the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after purchasing an additional 1,319 shares in the last quarter. Syon Capital LLC lifted its holdings in Nokia by 12.7% during the 2nd quarter. Syon Capital LLC now owns 11,730 shares of the technology company’s stock worth $156,000 after buying an additional 1,321 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Nokia by 6.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock worth $145,000 after buying an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after buying an additional 1,483 shares during the last quarter. Finally, Xponance LLC increased its stake in shares of Nokia by 13.0% in the 4th quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock valued at $88,000 after buying an additional 1,567 shares during the period. Institutional investors and hedge funds own 5.28% of the company’s stock.

Nokia Stock Up 0.1%

Nokia stock opened at $11.14 on Friday. The stock has a market cap of $64.00 billion, a price-to-earnings ratio of 79.61, a PEG ratio of 1.31 and a beta of 1.21. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $10.31 and its two-hundred day moving average price is $11.06. Nokia has a 52 week low of $4.48 and a 52 week high of $17.45.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. On average, analysts expect that Nokia will post 0.39 EPS for the current fiscal year.

Nokia Company Profile

Nokia Corporation is a Finland-based technology company that provides communications and networking equipment, software, and related services to telecommunications operators, enterprises, governments, and other organizations worldwide. Its offerings support the design, deployment, management, and modernization of fixed and mobile communications networks.

The company’s business includes mobile network infrastructure, radio access networks, core networks, cloud networking, broadband access, optical networking, IP routing, data-center networking, and network automation.