Nokia Co. Receives Average Recommendation of “Hold” from Analysts (NYSE:NOK)
Shares of Nokia Co. (NYSE:NOK) have received a consensus rating of “Hold” from the thirty-eight analysts that are presently covering the company, Analyst RN reports. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.46.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Nokia Co. from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 14th. They now have a $8.25 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Nokia Co. from $7.75 to $8.25 in a research note on Thursday, July 24th. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James upgraded shares of Nokia Co. from an “underperform” rating to a “market perform” rating in a research note on Monday, June 23rd.
Shares of Nokia Co. (NYSE:NOK) traded up 1.78% during mid-day trading on Friday, hitting $8.275. 4,507,056 shares of the company’s stock traded hands. Nokia Co. has a 1-year low of $3.87 and a 1-year high of $8.35. The stock has a 50-day moving average of $7.85 and a 200-day moving average of $7.64. The company has a market cap of $30.734 billion and a price-to-earnings ratio of 11.43. Nokia Co. also was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 13,771,383 shares, a decline of 29.3% from the July 31st total of 19,488,976 shares. Based on an average daily trading volume, of 17,777,060 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.0% of the company’s stock are sold short.
Nokia Co. (NYSE:NOK) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.01. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.91 billion. The company’s quarterly revenue was down 47.5% on a year-over-year basis. On average, analysts predict that Nokia Co. will post $0.32 earnings per share for the current fiscal year.
Nokia Corporation invests in technological devices. The Company is focused on three businesses: network infrastructure software, hardware and services, which it offers through Networks; location intelligence, which the Company provides through HERE, and advanced technology development and licensing, which the Company pursues through Technologies.
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