Morgan Stanley lifts Nokia Oyj [NOK] price estimate. Who else is bullish?

Nokia Oyj [NYSE: NOK] gained 2.37% or 0.11 points to close at $4.75 with a heavy trading volume of 24445987 shares. The company report on November 11, 2022 that Nokia completes first phase of share buyback program.

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Nokia CorporationStock Exchange Release 11 November 2022 at 21:15 EETNokia completes first phase of share buyback program.

Espoo, Finland – Nokia Corporation (“Nokia” or the “Company”) has now completed the first phase of the share buyback program announced in February 2022. Between 14 February 2022 and 11 November 2022, Nokia repurchased 63,963,583 of its own shares (FI0009000681) at an average price per share of approximately EUR 4.69.

It opened the trading session at $4.66, the shares rose to $4.78 and dropped to $4.64, the range by which the price of stock traded the whole day. The daily chart for NOK points out that the company has recorded -2.66% loss over the past six months. However, it is still -16.42% lower than its most recent low trading price.

If we look at the average trading volume of 26.82M shares, NOK reached to a volume of 24445987 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Nokia Oyj [NOK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOK shares is $6.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOK stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Nokia Oyj shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 08, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on October 13, 2022, representing the official price target for Nokia Oyj stock.

The Average True Range (ATR) for Nokia Oyj is set at 0.14, with the Price to Sales ratio for NOK stock in the period of the last 12 months amounting to 1.07. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 1.78. Price to Free Cash Flow for NOK in the course of the last twelve months was 35.96 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for NOK stock

Nokia Oyj [NOK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.70. With this latest performance, NOK shares gained by 5.09% in over the last four-week period, additionally sinking by -2.66% over the last 6 months – not to mention a drop of -16.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOK stock in for the last two-week period is set at 61.13, with the RSI for the last a single of trading hit 67.66, and the three-weeks RSI is set at 56.91 for Nokia Oyj [NOK]. The present Moving Average for the last 50 days of trading for this stock 4.53, while it was recorded at 4.53 for the last single week of trading, and 4.95 for the last 200 days.

Nokia Oyj [NOK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Nokia Oyj [NOK] shares currently have an operating margin of +10.79 and a Gross Margin at +40.93. Nokia Oyj’s Net Margin is presently recorded at +7.35.

Return on Total Capital for NOK is now 11.36, given the latest momentum, and Return on Invested Capital for the company is 7.98. Return on Equity for this stock inclined to 10.94, with Return on Assets sitting at 4.05. When it comes to the capital structure of this company, Nokia Oyj [NOK] has a Total Debt to Total Equity ratio set at 32.62. Additionally, NOK Total Debt to Total Capital is recorded at 24.59, with Total Debt to Total Assets ending up at 13.28. Long-Term Debt to Equity for the company is recorded at 30.88, with the Long-Term Debt to Total Capital now at 23.29.

Receivables Turnover for the company is 3.07 with a Total Asset Turnover recorded at a value of 0.55.Nokia Oyj’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.

Nokia Oyj [NOK]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nokia Oyj go to 5.03%.

An analysis of insider ownership at Nokia Oyj [NOK]

Positions in Nokia Oyj stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 196 institutional holders increased their position in Nokia Oyj [NYSE:NOK] by around 42,786,543 shares. Additionally, 200 investors decreased positions by around 101,967,843 shares, while 155 investors held positions by with 254,141,478 shares. The mentioned changes placed institutional holdings at 398,895,864 shares, according to the latest SEC report filing. NOK stock had 48 new institutional investments in for a total of 3,769,616 shares, while 49 institutional investors sold positions of 8,819,400 shares during the same period.


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