Shares of Nokia (NYSE:NOK) have earned an average rating of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.51.
Several analysts recently commented on NOK shares. Vetr raised Nokia from a “hold” rating to a “buy” rating and set a $5.78 price objective on the stock in a research note on Friday. Bank of America raised Nokia from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. MKM Partners raised Nokia from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.50 to $7.50 in a research note on Friday, February 2nd. Zacks Investment Research raised Nokia from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $6.00 price objective on shares of Nokia in a research note on Thursday, February 1st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new stake in shares of Nokia in the 4th quarter valued at about $102,000. Tiedemann Wealth Management LLC acquired a new stake in shares of Nokia in the 3rd quarter valued at about $114,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Nokia in the 4th quarter valued at about $116,000. Strategic Global Advisors LLC acquired a new stake in shares of Nokia in the 3rd quarter valued at about $143,000. Finally, Paloma Partners Management Co raised its stake in shares of Nokia by 192.8% in the 4th quarter. Paloma Partners Management Co now owns 31,353 shares of the technology company’s stock valued at $146,000 after purchasing an additional 20,644 shares during the period. 6.63% of the stock is currently owned by hedge funds and other institutional investors.
Nokia (NYSE:NOK) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.04. Nokia had a positive return on equity of 10.80% and a negative net margin of 6.37%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.41 billion. During the same period last year, the company earned $0.12 EPS. The firm’s revenue was down .7% on a year-over-year basis. sell-side analysts predict that Nokia will post 0.31 earnings per share for the current year.
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Nokia Company Profile
Nokia Corporation, together with its subsidiaries, provides network infrastructure and related services worldwide. The company operates through three segments: Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. It offers mobile networking solutions, such as hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals; radio access network solutions; Internet protocol multimedia subsystem/voice over LTE, subscriber data management and other virtualized software infrastructure solutions; backhaul solutions; and network planning, implementation, operations, and maintenance solutions.
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