Nokia Corp. (NOK) Sees Strong Trading Volume
Nokia Corp. (NYSE:NOK) shares saw an uptick in trading volume on Tuesday . 10,747,700 shares were traded during trading, a decline of 17% from the previous session’s volume of 12,914,804 shares.The stock last traded at $5.36 and had previously closed at $5.66.
A number of research analysts have issued reports on NOK shares. Canaccord Genuity raised Nokia Corp. from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, May 26th. They noted that the move was a valuation call. Nordea Equity Research raised Nokia Corp. to a “buy” rating in a report on Saturday, April 9th. TheStreet downgraded Nokia Corp. to a “hold” rating in a report on Thursday, May 26th. Morgan Stanley reissued a “neutral” rating on shares of Nokia Corp. in a report on Tuesday, May 3rd. Finally, MKM Partners reissued a “hold” rating and issued a $6.75 price target on shares of Nokia Corp. in a report on Saturday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Nokia Corp. presently has an average rating of “Buy” and a consensus target price of $7.26.
The firm has a 50-day moving average price of $5.52 and a 200-day moving average price of $6.08. The firm has a market capitalization of $30.42 billion and a price-to-earnings ratio of 11.258.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings data on Tuesday, May 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. During the same period in the previous year, the company posted $0.05 earnings per share. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.74 billion. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities analysts predict that Nokia Corp. will post $0.22 earnings per share for the current year.
The company also recently disclosed an annual dividend, which will be paid on Tuesday, July 12th. Investors of record on Monday, June 20th will be issued a dividend of $0.209 per share. The ex-dividend date is Thursday, June 16th. This is a positive change from Nokia Corp.’s previous annual dividend of $0.16.
Nokia Corp is a Finland-based telecommunication and network infrastructure company. The Company operates through two business segments: Nokia Networks and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services.
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