According to Zacks, “Nokia expects to realize annual operating cost synergies of more than the previously stated €900 million from the Alcatel-Lucent deal in 2018 which is encouraging. However, the mobile device maker has been struggling due to the unimpressive performance of its flagship unit– the Nokia Networks division. We are optimistic on the company’s efforts to expand its product portfolio. Nokia recently acquired U.S. based startup Eta Devices to improve its base station power efficiency. Enhancement of its Mobile Edge Computing Application, launch of Everything as a Service (Xaas) platform and expansion of AirScale Radio Access Portfolio are encouraging. Recently, the company announced a breackthrough F-cell technology in the wireless space. The new services are expected to reduce costs and improve efficiency for the company’s customers and meet demands of a rapidly changing technology sector.”
Other equities research analysts also recently issued reports about the stock. Goldman Sachs Group Inc. upgraded shares of Nokia Corp. from a neutral rating to a buy rating and boosted their target price for the company from $5.54 to $5.60 in a report on Wednesday, June 29th. Vetr downgraded shares of Nokia Corp. from a buy rating to a hold rating and set a $5.92 target price for the company. in a report on Wednesday, July 13th. JPMorgan Chase & Co. restated a focus list rating on shares of Nokia Corp. in a report on Friday, June 10th. Morgan Stanley restated a neutral rating on shares of Nokia Corp. in a report on Friday, August 12th. Finally, Canaccord Genuity restated a buy rating and issued a $7.00 target price on shares of Nokia Corp. in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $7.06.
Shares of Nokia Corp. (NYSE:NOK) traded up 0.8051% during midday trading on Wednesday, hitting $5.5342. 2,401,389 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $5.67 and its 200-day moving average is $5.68. The stock has a market cap of $31.94 billion, a PE ratio of 30.4077 and a beta of 1.47. Nokia Corp. has a 1-year low of $5.01 and a 1-year high of $7.63.
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The business’s quarterly revenue was up 91.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Analysts predict that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in NOK. Quantitative Systematic Strategies LLC acquired a new stake in Nokia Corp. during the second quarter valued at $166,000. Diligent Investors LLC purchased a new position in Nokia Corp. during the second quarter valued at approximately $165,000. Capital Fund Management S.A. purchased a new position in Nokia Corp. during the second quarter valued at approximately $3,982,000. Prospera Financial Services Inc purchased a new position in Nokia Corp. during the second quarter valued at approximately $101,000. Finally, Stoneridge Investment Partners LLC raised 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 valued at $3,749,000 after buying an additional 98,194 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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