Nokia (NYSE:NOK) Upgraded at BNP Paribas

Samuel Edwards

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BNP Paribas upgraded shares of Nokia (NYSE:NOK) from an underperform rating to a neutral rating in a report released on Friday, Anlyst Ratings reports.

A number of other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a buy rating on shares of Nokia in a research note on Monday, August 3rd. Morgan Stanley restated an equal weight rating on shares of Nokia in a research report on Monday, August 3rd. ValuEngine lowered shares of Nokia from a hold rating to a sell rating in a research report on Tuesday, September 1st. Raymond James reaffirmed a neutral rating on shares of Nokia in a report on Friday, October 2nd. Finally, Northland Securities began coverage on shares of Nokia in a report on Tuesday, July 14th. They set a buy rating and a $6.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $4.90.

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NYSE NOK opened at $3.37 on Friday. The company has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $4.18. The company has a current ratio of 1.50, a quick ratio of 1.26 and a debt-to-equity ratio of 0.34. The stock has a market cap of $18.91 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64. Nokia has a 52 week low of $2.34 and a 52 week high of $5.14.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, October 29th. The technology company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Nokia had a net margin of 2.76% and a return on equity of 9.26%. As a group, equities research analysts expect that Nokia will post 0.28 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of Nokia by 113.0% in the second quarter. Parallel Advisors LLC now owns 6,953 shares of the technology company’s stock valued at $30,000 after purchasing an additional 3,688 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Nokia during the second quarter worth about $44,000. Telos Capital Management Inc. acquired a new stake in Nokia during the second quarter worth about $44,000. FormulaFolio Investments LLC acquired a new stake in Nokia during the third quarter worth about $40,000. Finally, Howard Wealth Management LLC acquired a new stake in Nokia during the third quarter worth about $40,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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About Nokia

Nokia Corporation engages in the network and technology businesses worldwide. The company operates in four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.

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