Nokia Corporation (NYSE:NOK) Given Consensus Rating of “Hold” by Analysts
Nokia Corporation (NYSE:NOK) has been assigned a consensus rating of “Hold” from the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.41.
A number of research firms recently issued reports on NOK. Zacks Investment Research lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Vetr cut Nokia Corporation from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Nokia Corporation in a report on Thursday, April 27th. BMO Capital Markets reiterated a “market perform” rating on shares of Nokia Corporation in a report on Friday, June 16th. Finally, Canaccord Genuity restated a “hold” rating and set a $6.00 target price on shares of Nokia Corporation in a report on Friday, May 5th.
Nokia Corporation (NYSE NOK) traded up 0.16% during trading on Friday, reaching $6.26. The company’s stock had a trading volume of 9,597,704 shares. The stock’s market cap is $35.38 billion. The company’s 50-day moving average is $6.31 and its 200-day moving average is $5.76. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65.
Nokia Corporation (NYSE:NOK) last issued its earnings results on Thursday, July 27th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.64 billion. Nokia Corporation had a positive return on equity of 8.20% and a negative net margin of 1.78%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. Equities analysts expect that Nokia Corporation will post $0.29 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in NOK. Cutter & CO Brokerage Inc. raised its position in shares of Nokia Corporation by 14.6% in the first quarter. Cutter & CO Brokerage Inc. now owns 21,192 shares of the technology company’s stock valued at $115,000 after buying an additional 2,700 shares in the last quarter. Smithbridge Asset Management Inc. DE purchased a new position in shares of Nokia Corporation during the second quarter valued at about $119,000. Geneva Advisors LLC purchased a new position in shares of Nokia Corporation during the second quarter valued at about $125,000. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Nokia Corporation during the first quarter valued at about $136,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Nokia Corporation during the first quarter valued at about $150,000. 5.91% of the stock is owned by hedge funds and other institutional investors.
About Nokia Corporation
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.
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