Nokia’s Underperform Rating Reaffirmed at Sanford C. Bernstein (NOK)
Nokia (NYSE:NOK)‘s stock had its “underperform” rating reaffirmed by equities researchers at Sanford C. Bernstein in a research report issued on Tuesday, Analyst Ratings Network.com reports.
The analysts wrote, “major structural challenges.” Ferragu noted Nokia will be losing both the high-end feature phone and low-end smartphone segments over the next few years. Ferragu is currently modeling for Nokia’s Q2 results to be “materially”
A number of other firms have also recently commented on NOK. Analysts at Zacks reiterated a “neutral” rating on shares of Nokia in a research note to investors on Friday, August 2nd. They now have a $4.25 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Nokia from $4.50 to $4.00 in a research note to investors on Monday, July 22nd. They now have a “sector perform” rating on the stock. Finally, analysts at Oppenheimer downgraded shares of Nokia from a “market perform” rating to an “underperform” rating in a research note to investors on Monday, July 22nd.
Twelve investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.71.
Shares of Nokia (NYSE:NOK) traded down 1.94% during mid-day trading on Tuesday, hitting $4.05. 12,110,298 shares of the company’s stock traded hands. Nokia has a 52-week low of $2.27 and a 52-week high of $4.90. The stock has a 50-day moving average of $4. and a 200-day moving average of $3.70. The company’s market cap is $15.034 billion.
Nokia (NYSE:NOK) last announced its earnings results on Thursday, July 18th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.02. The company had revenue of $5.70 billion for the quarter. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was down 24.5% on a year-over-year basis. Analysts expect that Nokia will post $0.04 EPS for the current fiscal year.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.