Nokia Corp. (NOK) Stock Price Up 5.5%
Shares of Nokia Corp. (NYSE:NOK) rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $5.91 and last traded at $5.90, with a volume of 9,676,990 shares. The stock had previously closed at $5.59.
NOK has been the subject of several recent analyst reports. Goldman Sachs Group Inc. raised shares of 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 report on Wednesday, June 29th. Vetr upgraded shares of Nokia Corp. from a “buy” rating to a “strong-buy” rating and set a $6.18 target price for the company in a research note on Monday, June 27th. Sanford C. Bernstein reiterated an “outperform” rating and set a $10.35 target price on shares of Nokia Corp. in a research note on Friday, April 15th. Canaccord Genuity reiterated a “hold” rating and set a $5.50 target price (down from $6.50) on shares of Nokia Corp. in a research note on Thursday, May 12th. Finally, Nordea Equity Research upgraded shares of Nokia Corp. from a “hold” rating to a “buy” rating in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $7.26.
The company has a market cap of $33.79 billion and a PE ratio of 12.558. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $6.03.
Nokia Corp. (NYSE:NOK) last released its quarterly earnings data on Tuesday, May 10th. The technology company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same period last year, the business posted $0.05 earnings per share. Nokia Corp.’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Nokia Corp. will post $0.22 earnings per share for the current year.
The company also recently announced an annual dividend, which was paid on Tuesday, July 12th. Stockholders of record on Monday, June 20th were issued a dividend of $0.209 per share. This is a boost 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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