Nokia Corp. (NOK) Stock Price Up 5.5%
Nokia Corp. (NYSE:NOK) shares rose 5.5% during trading on Wednesday . The company traded as high as $5.91 and last traded at $5.90, with a volume of 9,676,990 shares traded. The stock had previously closed at $5.59.
NOK has been the subject of a number of recent research reports. Goldman Sachs Group Inc. upgraded Nokia Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $5.54 to $5.60 in a research note on Wednesday, June 29th. Vetr upgraded Nokia Corp. from a “buy” rating to a “strong-buy” rating and set a $6.18 price objective for the company in a research note on Monday, June 27th. Sanford C. Bernstein restated an “outperform” rating and set a $10.35 price objective on shares of Nokia Corp. in a research note on Friday, April 15th. Canaccord Genuity restated a “hold” rating and set a $5.50 price objective (down from $6.50) on shares of Nokia Corp. in a research note on Thursday, May 12th. Finally, Nordea Equity Research upgraded Nokia Corp. from a “hold” rating to a “buy” rating in a research note on Friday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.26.
The stock has a 50 day moving average of $5.58 and a 200-day moving average of $6.03. The company has a market capitalization of $33.87 billion and a P/E ratio of 12.59.
Nokia Corp. (NYSE:NOK) last posted its earnings results on Tuesday, May 10th. The technology company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the previous year, the company posted $0.05 EPS. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Analysts expect that Nokia Corp. will post $0.24 earnings per share for the current year.
The firm also recently announced an annual dividend, which was paid on Tuesday, July 12th. Shareholders of record on Monday, June 20th were issued a dividend of $0.209 per share. This is a positive change from Nokia Corp.’s previous annual dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 16th.
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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