Nokia Corp.’s (NOK) “Neutral” Rating Reaffirmed at Morgan Stanley
Nokia Corp. (NYSE:NOK)‘s stock had its “neutral” rating reissued by Morgan Stanley in a report released on Monday.
NOK has been the subject of a number of other reports. Bank of America Corp. reiterated a “buy” rating and set a $6.00 price objective on shares of Nokia Corp. in a report on Thursday, September 8th. Zacks Investment Research cut shares of Nokia Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Vetr cut shares of Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price objective for the company. in a report on Monday, July 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $7.00 price target on shares of Nokia Corp. in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Nokia Corp. presently has a consensus rating of “Buy” and an average price target of $7.06.
Shares of Nokia Corp. (NYSE:NOK) traded up 1.002% on Monday, reaching $5.545. 4,534,574 shares of the company were exchanged. The firm has a market capitalization of $32.00 billion, a PE ratio of 30.467 and a beta of 1.47. Nokia Corp. has a 12-month low of $5.01 and a 12-month high of $7.63. The company’s 50 day moving average is $5.67 and its 200 day moving average is $5.68.
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Nokia Corp. (NYSE:NOK) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The company earned $5.58 billion during the quarter, compared to analyst estimates of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. The company’s revenue for the quarter was up 91.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. Analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of Nokia Corp. by 40.5% in the third quarter. BNP Paribas Arbitrage SA now owns 79,874 shares of the technology company’s stock valued at $462,000 after buying an additional 23,020 shares during the period. Eqis Capital Management Inc. increased its stake in Nokia Corp. by 14.7% in the third quarter. Eqis Capital Management Inc. now owns 26,811 shares of the technology company’s stock worth $155,000 after buying an additional 3,431 shares in the last quarter. National Asset Management Inc. acquired a new stake in Nokia Corp. during the second quarter worth $113,000. Altalis Capital Management LLC increased its stake in Nokia Corp. by 168.8% in the second quarter. Altalis Capital Management LLC now owns 1,182,600 shares of the technology company’s stock worth $6,729,000 after buying an additional 742,600 shares in the last quarter. Finally, Usca Ria LLC increased its stake in Nokia Corp. by 11.2% in the second quarter. Usca Ria LLC now owns 39,644 shares of the technology company’s stock worth $226,000 after buying an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 4.28% of the company’s stock.
About Nokia Corp.
Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies.
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