Nokia Corp. (NOK) Downgraded by Goldman Sachs Group Inc.
Nokia Corp. (NYSE:NOK) was downgraded by analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.
NOK has been the subject of several other reports. Argus reissued a “buy” rating and set a $10.00 price target on shares of Nokia Corp. in a research report on Monday, August 15th. Bank of America Corp. reaffirmed a “buy” rating on shares of Nokia Corp. in a research report on Thursday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Nokia Corp. in a research report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $5.01 price objective (down from $5.09) on shares of Nokia Corp. in a research report on Thursday. Finally, Vetr cut Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price objective for the company. in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Nokia Corp. presently has a consensus rating of “Buy” and a consensus price target of $6.89.
Nokia Corp. (NYSE:NOK) traded down 3.34% on Thursday, reaching $4.92. The company had a trading volume of 13,279,474 shares. The company has a market capitalization of $28.40 billion, a price-to-earnings ratio of 27.18 and a beta of 1.47. The company’s 50 day moving average price is $5.64 and its 200-day moving average price is $5.67. Nokia Corp. has a 12 month low of $4.88 and a 12 month high of $7.63.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/nokia-corp-nok-downgraded-by-goldman-sachs-group-inc.html
Nokia Corp. (NYSE:NOK) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. Nokia Corp. had a net margin of 4.13% and a return on equity of 7.60%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 91.3% on a year-over-year basis. On average, equities analysts predict that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of NOK. Prospera Financial Services Inc acquired a new position in Nokia Corp. during the second quarter valued at about $101,000. National Asset Management Inc. purchased a new position in Nokia Corp. during the second quarter valued at approximately $113,000. Advisor Group Inc. purchased a new position in Nokia Corp. during the second quarter valued at approximately $127,000. Eqis Capital Management Inc. increased its position in Nokia Corp. by 1.2% in the second quarter. Eqis Capital Management Inc. now owns 23,380 shares of the technology company’s stock valued at $133,000 after buying an additional 267 shares during the last quarter. Finally, Regentatlantic Capital LLC increased its position in Nokia Corp. by 96.8% in the second quarter. Regentatlantic Capital LLC now owns 23,522 shares of the technology company’s stock valued at $134,000 after buying an additional 11,570 shares during the last quarter. 4.28% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Nokia Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia Corp. and related companies with MarketBeat.com's FREE daily email newsletter.