Nokia’s “Positive” Rating Reaffirmed at Bank of America Corp. (NOK)
Nokia (NYSE:NOK)‘s stock had its “positive” rating reiterated by stock analysts at Bank of America Corp. in a report issued on Wednesday, Analyst Ratings Network reports.
The analysts wrote, “Our Buy rating is motivated by four key reasons. 1) Post the disposal of D&S to MSFT, the stub appears to be cheap, whilst our bull/bear case analysis suggests a very skewed risk/reward profile. 2) We believe that EBIT margins in NSN are sustainable in the 8-10% range in the medium term. 3) Advanced Technologies could provide meaningful upside to FY14/15e EBIT. 4) Potential reinstatement of a dividend and inclusion in equity indices could broaden the investor base of Nokia.”
Nokia (NYSE:NOK) traded up 2.68% on Wednesday, hitting $7.6497. The stock had a trading volume of 29,921,912 shares. Nokia has a 52-week low of $2.27 and a 52-week high of $6.47. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $3.82. The company’s market cap is $28.397 billion. Nokia also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 31,340 call options on the company. This represents an increase of approximately 102% compared to the typical volume of 15,499 call options.
Nokia (NYSE:NOK) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.02. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was down 21.8% on a year-over-year basis. On average, analysts predict that Nokia will post $0.05 earnings per share for the current fiscal year.
NOK has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Nokia from $5.50 to $8.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Nokia in a research note to investors on Wednesday. Finally, analysts at Danske upgraded shares of Nokia from a “sell” rating to a “buy” rating in a research note to investors on Wednesday. Six research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.33.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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