Nokia Corp. (NYSE:NOK)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a research note issued on Thursday. They presently have a $6.00 price objective on the technology company’s stock, down from their prior price objective of $7.00. Canaccord Genuity’s target price would indicate a potential upside of 21.21% from the stock’s previous close.
A number of other analysts also recently commented on the stock. Goldman Sachs Group Inc. upgraded shares of Nokia Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.54 to $5.60 in a report on Wednesday, June 29th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $5.01 price objective (down previously from $5.09) on shares of Nokia Corp. in a report on Thursday. Vetr upgraded shares of Nokia Corp. from a “buy” rating to a “strong-buy” rating and set a $6.18 price objective for the company in a report on Monday, June 27th. Zacks Investment Research downgraded shares of Nokia Corp. from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Bank of America Corp. reissued a “buy” rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $6.73.
Shares of Nokia Corp. (NYSE:NOK) opened at 4.95 on Thursday. Nokia Corp. has a 1-year low of $4.88 and a 1-year high of $7.63. The stock’s 50 day moving average is $5.60 and its 200 day moving average is $5.66. The company has a market cap of $28.57 billion, a P/E ratio of 27.35 and a beta of 1.47.
Nokia Corp. (NYSE:NOK) last released its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The business earned $5.58 billion during the quarter, compared to analyst estimates of $5.80 billion. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The firm’s revenue was up 91.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. On average, analysts predict that Nokia Corp. will post $0.20 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Prospera Financial Services Inc bought a new stake in shares of Nokia Corp. during the second quarter valued at approximately $101,000. National Asset Management Inc. bought a new stake in shares of Nokia Corp. during the second quarter valued at approximately $113,000. Advisor Group Inc. bought a new stake in shares of Nokia Corp. during the second quarter valued at approximately $127,000. Eqis Capital Management Inc. raised its stake in shares of 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 shares of 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. Hedge funds and other institutional investors own 4.28% of the company’s stock.
Nokia Corp. Company Profile
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.
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