Nokia Corp. (NOK) Earns Market Perform Rating from Wells Fargo & Co.
Nokia Corp. (NYSE:NOK)‘s stock had its “market perform” rating restated by investment analysts at Wells Fargo & Co. in a report released on Thursday. They presently have a $5.65 target price on the technology company’s stock. Wells Fargo & Co.’s target price indicates a potential upside of 14.37% from the stock’s current price.
Several other brokerages have also commented on NOK. BMO Capital Markets restated an “outperform” rating and set a $7.00 target price on shares of Nokia Corp. in a research report on Wednesday, August 10th. Vetr lowered shares of Nokia Corp. from a “buy” rating to a “sell” rating and set a $5.66 target price on the stock. in a research report on Wednesday, July 27th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $8.00 target price on shares of Nokia Corp. in a research report on Tuesday, August 16th. Canaccord Genuity restated a “buy” rating and set a $7.00 target price on shares of Nokia Corp. in a research report on Monday, September 19th. Finally, Goldman Sachs Group Inc. lowered shares of Nokia Corp. from a “conviction-buy” rating to a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $6.73.
Nokia Corp. (NYSE:NOK) traded down 2.95% during trading on Thursday, reaching $4.94. 23,210,817 shares of the company’s stock were exchanged. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 27.29 and a beta of 1.47. Nokia Corp. has a 52 week low of $4.88 and a 52 week high of $7.63. The stock has a 50-day moving average price of $5.62 and a 200 day moving average price of $5.67.
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Nokia Corp. (NYSE:NOK) last issued its 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. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. Nokia Corp.’s revenue for the quarter was up 91.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Equities research analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in NOK. Quantitative Systematic Strategies LLC bought a new position in Nokia Corp. during the second quarter worth $166,000. Diligent Investors LLC bought a new position in Nokia Corp. during the second quarter worth $165,000. Capital Fund Management S.A. bought a new position in Nokia Corp. during the second quarter worth $3,982,000. Prospera Financial Services Inc bought a new position in Nokia Corp. during the second quarter worth $101,000. Finally, Stoneridge Investment Partners LLC boosted its position in Nokia Corp. by 17.5% in the second quarter. Stoneridge Investment Partners LLC now owns 658,881 shares of the technology company’s stock worth $3,749,000 after buying an additional 98,194 shares in the last quarter. Hedge funds and other institutional investors own 4.28% of the company’s stock.
Nokia Corp. Company Profile
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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