Nokia Corp. (NOK) Downgraded to “Buy” at Goldman Sachs Group Inc.
Several other equities research analysts have also recently issued reports on NOK. Vetr raised Nokia Corp. from a buy rating to a strong-buy rating and set a $6.18 target price for the company in a research note on Thursday, June 16th. Zacks Investment Research cut Nokia Corp. from a hold rating to a sell rating in a research note on Tuesday, July 12th. BMO Capital Markets reissued a positive rating and set a $7.00 target price on shares of Nokia Corp. in a research note on Wednesday, July 13th. JPMorgan Chase & Co. reissued a buy rating on shares of Nokia Corp. in a research note on Thursday, July 14th. Finally, Bank of America Corp. restated a buy rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Nokia Corp. currently has an average rating of Buy and an average target price of $6.73.
Nokia Corp. (NYSE:NOK) traded up 0.40% on Thursday, hitting $4.96. The stock had a trading volume of 4,762,407 shares. Nokia Corp. has a 52-week low of $4.88 and a 52-week high of $7.63. The firm’s 50-day moving average is $5.62 and its 200-day moving average is $5.67. The company has a market cap of $28.63 billion, a P/E ratio of 27.40 and a beta of 1.47.
Nokia Corp. (NYSE:NOK) last posted its earnings results 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. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. Nokia Corp.’s revenue was up 91.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Equities research analysts anticipate that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in NOK. Levin Capital Strategies L.P. acquired a new stake in shares of Nokia Corp. during the second quarter worth $91,405,000. Brandes Investment Partners LP acquired a new stake in shares of Nokia Corp. during the second quarter worth $55,182,000. Emerald Acquisition Ltd. acquired a new stake in shares of Nokia Corp. during the second quarter worth $30,399,000. Bowen Hanes & Co. Inc. raised its stake in shares of 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. Finally, Chartwell Investment Partners LLC acquired a new stake in shares of Nokia Corp. during the second quarter worth $13,187,000. 4.28% of the stock is currently owned by institutional investors.
About Nokia Corp.
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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