JPMorgan Chase & Co. Cuts Nokia Oyj (NYSE:NOK) Price Target to $6.30

Nokia Oyj (NYSE:NOK) had its price target cut by JPMorgan Chase & Co. from $6.35 to $6.30 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Nokia Oyj from a “neutral” rating to a “sell” rating and set a $3.60 target price for the company. in a research note on Thursday, January 16th. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Craig Hallum boosted their target price on shares of Nokia Oyj from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Nokia Oyj currently has a consensus rating of “Moderate Buy” and an average target price of $5.85.

Nokia Oyj Trading Down 1.1 %

Shares of NOK opened at $4.94 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 1.58. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $5.06. The stock has a market capitalization of $26.91 billion, a PE ratio of 19.74, a P/E/G ratio of 6.38 and a beta of 1.06. The company’s fifty day moving average is $4.63 and its 200 day moving average is $4.44.

Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. Sell-side analysts expect that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Nokia Oyj

Hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. purchased a new stake in Nokia Oyj in the third quarter worth about $44,000. Foundations Investment Advisors LLC purchased a new stake in Nokia Oyj in the fourth quarter worth about $45,000. D.A. Davidson & CO. purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at about $46,000. PEAK6 Investments LLC purchased a new stake in shares of Nokia Oyj during the third quarter valued at about $45,000. Finally, Wedmont Private Capital purchased a new stake in shares of Nokia Oyj during the fourth quarter valued at about $47,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia Oyj

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.