Nokia Upgraded to Neutral by HSBC (NOK)
Nokia (NYSE:NOK) was upgraded by equities researchers at HSBC from an “underweight” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Shares of Nokia (NYSE:NOK) opened at 6.58 on Monday. Nokia has a 1-year low of $2.52 and a 1-year high of $6.78. The stock has a 50-day moving average of $4.84 and a 200-day moving average of $3.92. The company’s market cap is $24.426 billion. Nokia also was the recipient of unusually large options trading activity on Friday. Stock investors bought 22,787 call options on the company. This represents an increase of approximately 2,000% compared to the average volume of 1,085 call options.
Nokia (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.00 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.02. The company had revenue of $5.70 billion for the quarter. During the same quarter last year, the company posted ($0.08) earnings per share. Nokia’s revenue was down 24.5% compared to the same quarter last year. On average, analysts predict that Nokia will post $0.05 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NOK. Analysts at TheStreet upgraded shares of Nokia (NYSE:NOK) to a “hold” rating in a research note to investors on Friday. Separately, analysts at Seb Enskilda upgraded shares of Nokia (NYSE:NOK) to an “overweight” rating in a research note to investors on Thursday. Finally, analysts at Credit Suisse upgraded shares of Nokia (NYSE:NOK) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 18th.
Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $4.73.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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