Nokia Downgraded to Underperform at Raymond James (NOK)
Nokia (NYSE:NOK) was downgraded by equities research analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $7.00 price objective on the stock. Raymond James’ target price would suggest a potential downside of 11.84% from the company’s current price.
Nokia (NYSE:NOK) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was down 21.8% on a year-over-year basis.
A number of other analysts have also recently weighed in on NOK. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Nokia in a research note to investors on Tuesday, December 17th. Separately, analysts at Societe Generale downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, December 11th. Finally, analysts at Mizuho initiated coverage on shares of Nokia in a research note to investors on Tuesday, December 10th. They set a “neutral” rating and a $8.00 price target on the stock. Seven research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.11.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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