Nokia (NOK) Stock Rating Lowered by Nordea Equity Research
A number of other research firms also recently weighed in on NOK. Zacks Investment Research raised shares of Nokia from a hold rating to a buy rating and set a $6.75 price target for the company in a research note on Monday, April 30th. Citigroup reissued a neutral rating on shares of Nokia in a research note on Friday, March 2nd. Berenberg Bank began coverage on shares of Nokia in a research note on Wednesday, April 11th. They set a buy rating for the company. MKM Partners raised shares of Nokia from a neutral rating to a buy rating and boosted their price target for the stock from $5.50 to $7.50 in a research note on Friday, February 2nd. Finally, Vetr raised shares of Nokia from a hold rating to a buy rating and set a $5.78 price target for the company in a research note on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $5.68.
Shares of Nokia opened at $5.79 on Tuesday, MarketBeat.com reports. Nokia has a 1 year low of $4.51 and a 1 year high of $6.59. The company has a market cap of $33.51 billion, a PE ratio of 15.65, a P/E/G ratio of 2.74 and a beta of 1.14. The company has a current ratio of 1.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20.
The business also recently disclosed a special dividend, which will be paid on Monday, June 18th. Stockholders of record on Friday, June 1st will be given a $0.2364 dividend. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, May 31st.
Several institutional investors and hedge funds have recently modified their holdings of the company. Suntrust Banks Inc. raised its position in shares of Nokia by 75.7% in the first quarter. Suntrust Banks Inc. now owns 31,580 shares of the technology company’s stock valued at $171,000 after purchasing an additional 13,606 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Nokia in the first quarter valued at about $449,000. CIBC World Markets Inc. raised its position in shares of Nokia by 407.7% in the first quarter. CIBC World Markets Inc. now owns 126,324 shares of the technology company’s stock valued at $691,000 after purchasing an additional 101,440 shares during the period. Royal Bank of Canada raised its position in shares of Nokia by 19.1% in the first quarter. Royal Bank of Canada now owns 2,874,354 shares of the technology company’s stock valued at $15,722,000 after purchasing an additional 461,706 shares during the period. Finally, Alkeon Capital Management LLC bought a new position in shares of Nokia in the first quarter valued at about $12,034,000. 6.70% of the stock is currently owned by institutional investors.
Nokia Company Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.
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