Nokia Corp. (NOK) Rating Reiterated by Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Nokia Corp. (NYSE:NOK) in a report published on Monday. Canaccord Genuity currently has a $7.00 price target on the technology company’s stock.
NOK has been the topic of several other reports. JPMorgan Chase & Co. reiterated a focus list rating on shares of Nokia Corp. in a report on Friday, June 10th. Argus reiterated a buy rating and set a $10.00 price target on shares of Nokia Corp. in a report on Monday, August 15th. Bank of America Corp. reiterated a buy rating on shares of Nokia Corp. in a report on Thursday, July 14th. BMO Capital Markets reiterated a buy rating and set a $7.00 price target on shares of Nokia Corp. in a report on Wednesday, August 3rd. Finally, Vetr downgraded shares of Nokia Corp. from a strong-buy rating to a buy rating and set a $6.18 price target on the stock. in a report on Wednesday, May 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $7.18.
Shares of Nokia Corp. (NYSE:NOK) opened at 5.74 on Monday. The company has a market cap of $33.13 billion, a P/E ratio of 31.54 and a beta of 1.49. The company’s 50 day moving average is $5.66 and its 200 day moving average is $5.71. Nokia Corp. has a 12 month low of $5.01 and a 12 month high of $7.63.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The business’s revenue for the quarter was up 91.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities research analysts predict that Nokia Corp. will post $0.20 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC bought a new position in shares of Nokia Corp. during the second quarter worth about $166,000. Diligent Investors LLC bought a new position in shares of Nokia Corp. during the second quarter worth about $165,000. Capital Fund Management S.A. bought a new position in shares of Nokia Corp. during the second quarter worth about $3,982,000. Prospera Financial Services Inc bought a new position in shares of Nokia Corp. during the second quarter worth about $101,000. Finally, Stoneridge Investment Partners LLC raised its position in shares of Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock worth $3,749,000 after buying an additional 98,194 shares during the last quarter. 4.28% of the stock is owned by institutional investors.
Nokia Corp. Company Profile
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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