Nokia Corp. (NOK) Earns “Outperform” Rating from Credit Suisse Group AG
Nokia Corp. (NYSE:NOK)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse Group AG in a research report issued to clients and investors on Thursday. They currently have a $5.01 price objective on the technology company’s stock, down from their prior price objective of $5.09. Credit Suisse Group AG’s price target points to a potential downside of 1.57% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Goldman Sachs Group Inc. upgraded Nokia Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.54 to $5.60 in a research note on Wednesday, June 29th. Vetr upgraded Nokia Corp. from a “buy” rating to a “strong-buy” rating and set a $6.18 price target for the company in a research note on Monday, June 27th. Bank of America Corp. reiterated a “buy” rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Morgan Stanley reiterated a “neutral” rating on shares of Nokia Corp. in a research note on Friday, August 12th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $7.00 price target on shares of Nokia Corp. in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $6.89.
Shares of Nokia Corp. (NYSE:NOK) opened at 5.09 on Thursday. Nokia Corp. has a 12-month low of $5.01 and a 12-month high of $7.63. The stock has a market cap of $29.38 billion, a P/E ratio of 28.12 and a beta of 1.47. The company has a 50 day moving average price of $5.64 and a 200 day moving average price of $5.67.
Nokia Corp. (NYSE:NOK) last posted its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $0.09 EPS. Nokia Corp.’s revenue for the quarter was up 91.3% compared to the same quarter last year. Analysts anticipate that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. purchased a new stake in Nokia Corp. during the second quarter worth approximately $91,405,000. Brandes Investment Partners LP purchased a new stake in Nokia Corp. during the second quarter worth approximately $55,182,000. Waddell & Reed Financial Inc. raised its stake in Nokia Corp. by 16.3% in the second quarter. Waddell & Reed Financial Inc. now owns 7,896,000 shares of the technology company’s stock worth $44,928,000 after buying an additional 1,107,100 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Nokia Corp. during the second quarter worth approximately $30,399,000. Finally, Bowen Hanes & Co. Inc. raised its stake in Nokia Corp. by 8,371.1% in the second quarter. Bowen Hanes & Co. Inc. now owns 3,303,735 shares of the technology company’s stock worth $18,798,000 after buying an additional 3,264,735 shares in the last quarter. 4.28% of the stock is currently 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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