Goldman Sachs Group Inc. cut shares of Nokia Corp. (NYSE:NOK) from a conviction-buy rating to a buy rating in a report published on Thursday morning, The Fly reports.
Several other equities analysts have also issued reports on NOK. Vetr lowered Nokia Corp. from a strong-buy rating to a buy rating and set a $5.98 target price on the stock. in a research note on Tuesday, June 28th. Canaccord Genuity reissued a buy rating and set a $7.00 target price on shares of Nokia Corp. in a research note on Monday, August 8th. BMO Capital Markets reissued a buy rating and set a $7.00 target price on shares of Nokia Corp. in a research note on Wednesday, August 3rd. Bank of America Corp. reissued a buy rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. 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 issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $6.73.
Shares of Nokia Corp. (NYSE:NOK) opened at 4.97 on Thursday. The firm has a market cap of $28.68 billion, a P/E ratio of 27.46 and a beta of 1.47. Nokia Corp. has a one year low of $4.88 and a one year high of $7.63. The firm has a 50-day moving average price of $5.58 and a 200 day moving average price of $5.65.
Nokia Corp. (NYSE:NOK) last announced its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 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 business earned $5.58 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company earned $0.09 EPS. The business’s revenue for the quarter was up 91.3% on a year-over-year basis. On average, analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Tocqueville Asset Management L.P. boosted its stake in Nokia Corp. by 94.4% in the second quarter. Tocqueville Asset Management L.P. now owns 2,181,695 shares of the technology company’s stock worth $12,414,000 after buying an additional 1,059,645 shares during the last quarter. Societe Generale acquired a new stake in Nokia Corp. during the second quarter valued at approximately $924,000. Bank of Montreal Can acquired a new stake in Nokia Corp. during the second quarter valued at approximately $454,000. Blair William & Co. IL acquired a new stake in Nokia Corp. during the second quarter valued at approximately $144,000. Finally, Stoneridge Investment Partners LLC boosted its stake 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. 4.28% of the stock is owned by institutional investors.
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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