Wells Fargo & Co. Reiterates Market Perform Rating for Nokia Corp. (NOK)
Nokia Corp. (NYSE:NOK)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co. in a research note issued on Thursday. They presently have a $5.65 price target on the technology company’s stock. Wells Fargo & Co.’s target price would suggest a potential upside of 14.14% from the stock’s current price.
Several other research analysts have also issued reports on the company. Canaccord Genuity restated a “buy” rating and issued a $6.00 price target (down from $7.00) on shares of Nokia Corp. in a research report on Thursday. 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 restated an “outperform” rating and issued a $5.01 price target (down from $5.09) on shares of Nokia Corp. in a research report on Thursday. Finally, Morgan Stanley restated a “neutral” rating on shares of Nokia Corp. in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.73.
Nokia Corp. (NYSE:NOK) opened at 4.95 on Thursday. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 27.35 and a beta of 1.47. The firm has a 50-day moving average price of $5.60 and a 200 day moving average price of $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 earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm earned $5.58 billion during the quarter, compared to analyst estimates of $5.80 billion. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The firm’s quarterly revenue was up 91.3% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. On average, equities analysts forecast that Nokia Corp. will post $0.20 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc purchased a new position in Nokia Corp. during the second quarter valued at approximately $101,000. National Asset Management Inc. purchased a new position in Nokia Corp. during the second quarter valued at approximately $113,000. Advisor Group Inc. purchased a new position in Nokia Corp. during the second quarter valued at approximately $127,000. Eqis Capital Management Inc. increased its position in Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock valued at $133,000 after buying an additional 267 shares during the last quarter. Finally, Regentatlantic Capital LLC increased its position in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares during the last quarter. 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.
Receive News & Stock Ratings for Nokia Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Corp. and related stocks with our FREE daily email newsletter.