Wells Fargo & Co. reissued their market perform rating on shares of Nokia Corp. (NYSE:NOK) in a research report report published on Thursday. They currently have a $5.65 price target on the technology company’s stock.
Several other analysts also recently issued reports on NOK. Vetr upgraded Nokia Corp. from a buy rating to a strong-buy rating and set a $6.18 price objective on the stock in a research report on Thursday, June 16th. Goldman Sachs Group Inc. upgraded Nokia Corp. from a neutral rating to a buy rating and upped their price objective for the company from $5.54 to $5.60 in a research report on Wednesday, June 29th. Zacks Investment Research downgraded Nokia Corp. from a hold rating to a sell rating in a research report on Tuesday, July 12th. BMO Capital Markets restated a positive rating and issued a $7.00 price objective on shares of Nokia Corp. in a research report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $6.73.
Nokia Corp. (NYSE:NOK) traded up 1.21% during trading on Thursday, reaching $5.00. The company’s stock had a trading volume of 2,762,150 shares. The company’s 50-day moving average is $5.62 and its 200-day moving average is $5.67. The company has a market capitalization of $28.86 billion, a P/E ratio of 27.62 and a beta of 1.47. Nokia Corp. has a 1-year low of $4.88 and a 1-year high of $7.63.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The company earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 91.3% compared to the same quarter last year. Equities analysts anticipate that Nokia Corp. will post $0.20 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOK. Societe Generale purchased a new position in Nokia Corp. during the second quarter worth approximately $924,000. Bank of Montreal Can purchased a new position in Nokia Corp. during the second quarter worth approximately $454,000. Blair William & Co. IL purchased a new position in Nokia Corp. during the second quarter worth approximately $144,000. Stoneridge Investment Partners LLC increased its position in Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock worth $3,749,000 after buying an additional 98,194 shares in the last quarter. Finally, World Asset Management Inc increased its position in Nokia Corp. by 8.3% in the second quarter. World Asset Management Inc now owns 358,217 shares of the technology company’s stock worth $2,038,000 after buying an additional 27,571 shares in the last quarter. 4.28% of the stock is currently owned by institutional investors.
About Nokia Corp.
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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