Nokia Corp. (NOK) Earns “Buy” Rating from Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Nokia Corp. (NYSE:NOK) in a research report released on Thursday morning. The firm currently has a $6.00 target price on the technology company’s stock, down from their prior target price of $7.00.
Other analysts have also issued research reports about the company. Goldman Sachs Group Inc. raised Nokia Corp. from a neutral rating to a buy rating and boosted their price target for the company from $5.54 to $5.60 in a report on Wednesday, June 29th. Vetr lowered Nokia Corp. from a buy rating to a hold rating and set a $5.92 price target for the company. in a report on Wednesday, July 13th. Morgan Stanley reissued a neutral rating on shares of Nokia Corp. in a report on Friday, August 12th. Argus reissued a buy rating and set a $10.00 price target on shares of Nokia Corp. in a report on Monday, August 15th. Finally, BMO Capital Markets reissued a positive rating and set a $7.00 price target on shares of Nokia Corp. in a report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $6.73.
Nokia Corp. (NYSE:NOK) opened at 5.02 on Thursday. Nokia Corp. has a 12 month low of $4.88 and a 12 month high of $7.63. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 27.73 and a beta of 1.47. The stock’s 50 day moving average price is $5.56 and its 200 day moving average price is $5.64.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue was up 91.3% on a year-over-year basis. Equities research analysts anticipate that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc acquired a new stake in Nokia Corp. during the second quarter valued at approximately $101,000. National Asset Management Inc. acquired a new stake in Nokia Corp. during the second quarter valued at approximately $113,000. Advisor Group Inc. acquired a new stake in Nokia Corp. during the second quarter valued at approximately $127,000. Eqis Capital Management Inc. raised its stake in Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock valued at $133,000 after buying an additional 267 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its stake in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares in the last quarter. Institutional investors and hedge funds own 4.28% of the company’s stock.
About Nokia Corp.
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.
Receive News & Ratings for Nokia Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Corp. and related companies with MarketBeat.com's FREE daily email newsletter.