Nokia Co. Price Target Increased to $11.00 by Analysts at Canaccord Genuity (NOK)
Stock analysts at Canaccord Genuity lifted their price objective on shares of Nokia Co. (NYSE:NOK) from $10.25 to $11.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 40.31% from the company’s current price.
Nokia Co. (NYSE:NOK) traded up 0.26% during mid-day trading on Tuesday, hitting $7.86. 12,404,705 shares of the company’s stock traded hands. Nokia Co. has a one year low of $3.39 and a one year high of $8.20. The stock’s 50-day moving average is $7.38 and its 200-day moving average is $7.57. The company’s market cap is $29.190 billion. Nokia Co. also was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 24,698,854 shares, a decrease of 11.1% from the April 15th total of 27,786,729 shares. Based on an average daily volume of 24,802,302 shares, the short-interest ratio is currently 1.0 days. Currently, 0.0% of the company’s stock are short sold.
Nokia Co. (NYSE:NOK) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $2.66 billion for the quarter. During the same quarter last year, the company posted ($0.02) earnings per share. Nokia Co.’s revenue was down 54.5% compared to the same quarter last year. On average, analysts predict that Nokia Co. will post $0.31 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Wednesday, July 9th. Investors of record on Monday, June 23rd will be given a dividend of $0.3591 per share. This represents a yield of 2.04%. The ex-dividend date of this dividend is Thursday, June 19th.
NOK has been the subject of a number of other recent research reports. Analysts at Deutsche Bank upgraded shares of Nokia Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $10.12 price target on the stock. Separately, analysts at Jefferies Group upgraded shares of Nokia Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Nokia Co. in a research note on Friday, May 9th. They now have a $8.75 price target on the stock. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.82.
Nokia Corporation (NYSE:NOK) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.