Nokia Corp. (NOK) Rating Reiterated by Canaccord Genuity
Nokia Corp. (NYSE:NOK)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research report issued on Thursday. They presently have a $6.00 target price on the technology company’s stock, down from their prior target price of $7.00. Canaccord Genuity’s target price would indicate a potential upside of 21.21% from the stock’s current price.
Several other research analysts have also issued reports on NOK. Zacks Investment Research lowered Nokia Corp. from a “hold” rating to a “sell” rating in a research report on Thursday. Goldman Sachs Group Inc. lowered Nokia Corp. from a “conviction-buy” rating to a “buy” rating in a research report on Thursday. Credit Suisse Group AG reissued an “outperform” rating and issued a $5.01 target price (down previously from $5.09) on shares of Nokia Corp. in a research report on Thursday. Morgan Stanley reissued a “neutral” rating on shares of Nokia Corp. in a research report on Monday, October 10th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $6.00 target price on shares of Nokia Corp. in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Nokia Corp. presently has an average rating of “Buy” and a consensus price target of $6.73.
Nokia Corp. (NYSE:NOK) opened at 4.95 on Thursday. The stock has a market cap of $28.57 billion, a PE ratio of 27.35 and a beta of 1.47. The company’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.66. Nokia Corp. has a 12 month low of $4.88 and a 12 month high of $7.63.
Nokia Corp. (NYSE:NOK) last released its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.80 billion. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The company’s revenue for the quarter was up 91.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Equities analysts forecast that Nokia Corp. will post $0.20 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC acquired a new stake in Nokia Corp. during the second quarter worth approximately $166,000. Diligent Investors LLC acquired a new stake in Nokia Corp. during the second quarter worth approximately $165,000. Capital Fund Management S.A. acquired a new stake in Nokia Corp. during the second quarter worth approximately $3,982,000. Prospera Financial Services Inc acquired a new stake in Nokia Corp. during the second quarter worth approximately $101,000. 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 worth $3,749,000 after buying an additional 98,194 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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