Nokia Corp.’s (NOK) “Neutral” Rating Reaffirmed at Morgan Stanley
Nokia Corp. (NYSE:NOK)‘s stock had its “neutral” rating reaffirmed by Morgan Stanley in a report released on Monday.
NOK has been the subject of a number of other research reports. Bank of America Corp. restated a “buy” rating and set a $6.00 price target on shares of Nokia Corp. in a research note on Thursday, September 8th. Zacks Investment Research cut shares of Nokia Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Vetr cut shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target for the company. in a research note on Monday, July 4th. JPMorgan Chase & Co. restated a “buy” rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Finally, BMO Capital Markets restated an “outperform” rating and set a $7.00 price target on shares of Nokia Corp. in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Nokia Corp. currently has a consensus rating of “Buy” and an average target price of $7.06.
Shares of Nokia Corp. (NYSE:NOK) traded up 1.002% during trading on Monday, reaching $5.545. The company had a trading volume of 4,534,574 shares. Nokia Corp. has a 12-month low of $5.01 and a 12-month high of $7.63. The firm has a 50-day moving average of $5.67 and a 200-day moving average of $5.68. The company has a market cap of $32.00 billion, a P/E ratio of 30.467 and a beta of 1.47.
Nokia Corp. (NYSE:NOK) last released its earnings results on Thursday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 91.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nokia Corp. will post $0.20 EPS for the current year.
A number of large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC purchased a new stake in shares of Nokia Corp. during the second quarter worth about $166,000. Diligent Investors LLC bought a new position in shares of Nokia Corp. during the second quarter worth approximately $165,000. Capital Fund Management S.A. bought a new position in shares of Nokia Corp. during the second quarter worth approximately $3,982,000. Prospera Financial Services Inc bought a new position in shares of Nokia Corp. during the second quarter worth approximately $101,000. Finally, Stoneridge Investment Partners LLC raised its position in shares of 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 during the period. 4.28% of the stock is currently owned by hedge funds and other 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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