Credit Suisse Group Reaffirms “Neutral” Rating for Nokia Corporation (NYSE:NOK)
A number of other research firms also recently weighed in on NOK. Zacks Investment Research downgraded Nokia Corporation from a buy rating to a hold rating in a research note on Monday, July 17th. Vetr downgraded Nokia Corporation from a buy rating to a hold rating and set a $6.00 price objective on the stock. in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Nokia Corporation in a research note 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 issued a $6.00 price objective on shares of Nokia Corporation in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $6.24.
Shares of Nokia Corporation (NYSE:NOK) traded up 0.16% during mid-day trading on Friday, reaching $6.26. The company’s stock had a trading volume of 9,597,704 shares. The company has a 50 day moving average of $6.31 and a 200-day moving average of $5.76. The firm’s market capitalization is $35.38 billion. Nokia Corporation has a 12 month low of $4.04 and a 12 month high of $6.65.
Nokia Corporation (NYSE:NOK) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. The business 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%. Nokia Corporation’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. Equities research analysts forecast that Nokia Corporation will post $0.29 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in NOK. Nationwide Fund Advisors raised its position in Nokia Corporation by 3.8% in the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the technology company’s stock valued at $279,000 after buying an additional 1,900 shares during the last quarter. CWM LLC raised its position in Nokia Corporation by 2.5% in the first quarter. CWM LLC now owns 653,389 shares of the technology company’s stock valued at $3,541,000 after buying an additional 15,721 shares during the last quarter. Financial & Investment Management Group Ltd. raised its position in shares of Nokia Corporation by 4.8% in the first quarter. Financial & Investment Management Group Ltd. now owns 1,154,881 shares of the technology company’s stock valued at $6,259,000 after buying an additional 52,551 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of Nokia Corporation by 22.2% in the first quarter. Horrell Capital Management Inc. now owns 275,000 shares of the technology company’s stock valued at $1,491,000 after buying an additional 50,000 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Nokia Corporation by 3.3% in the first quarter. Capstone Asset Management Co. now owns 491,268 shares of the technology company’s stock valued at $2,663,000 after buying an additional 15,695 shares in the last quarter. Institutional investors and hedge funds own 5.91% of the company’s stock.
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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