RBC Capital Upgrades Nokia to Outperform (NOK)
Nokia (NYSE:NOK) was upgraded by equities research analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $2.00 price target on the stock, down from their previous price target of $7.00. RBC Capital’s price target indicates a potential downside of 64.66% from the stock’s previous close.
Shares of Nokia (NYSE:NOK) traded up 3.53% during mid-day trading on Wednesday, hitting $5.86. The stock had a trading volume of 25,547,250 shares. Nokia has a 52 week low of $2.52 and a 52 week high of $5.68. The stock has a 50-day moving average of $4.29 and a 200-day moving average of $3.76. The company’s market cap is $21.753 billion.
Nokia (NYSE:NOK) last issued its quarterly earnings data 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 $0.05 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Berenberg Bank upgraded shares of Nokia (NYSE:NOK) from a “sell” rating to a “buy” rating in a research note to investors on Wednesday. Separately, analysts at Morgan Stanley initiated coverage on shares of Nokia (NYSE:NOK) in a research note to investors on Thursday, September 5th. They set an “equal weight” rating on the stock. Finally, analysts at Scotiabank raised their price target on shares of Nokia (NYSE:NOK) from $4.00 to $6.10 in a research note to investors on Wednesday, September 4th.
Five equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.55.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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