Nokia Rating Increased to Buy at Societe Generale (NOK)
Nokia (NYSE:NOK) was upgraded by equities researchers at Societe Generale from a “hold” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.
Shares of Nokia (NYSE:NOK) traded down 2.42% on Friday, hitting $6.86. 33,087,890 shares of the company’s stock traded hands. Nokia has a 1-year low of $3.02 and a 1-year high of $8.20. The stock has a 50-day moving average of $7.84 and a 200-day moving average of $6.37. The company’s market cap is $25.467 billion. Nokia also was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 32,102 call options on the company. This represents an increase of approximately 221% compared to the average daily volume of 10,001 call options.
Nokia (NYSE:NOK) last released its earnings data on Thursday, January 16th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.03. The company had revenue of $3.48 billion for the quarter. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 21.2% on a year-over-year basis. On average, analysts predict that Nokia will post $0.07 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Carnegie upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, January 15th. Separately, analysts at Raymond James downgraded shares of Nokia from a “market perform” rating to an “underperform” rating in a research note to investors on Tuesday, January 14th. They now have a $7.00 price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Nokia in a research note to investors on Tuesday, December 17th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.65.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
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