Nokia Corp. (NOK) Earns “Buy” Rating from BNP Paribas
Nokia Corp. (NYSE:NOK)‘s stock had its “buy” rating reiterated by analysts at BNP Paribas in a report issued on Saturday.
NOK has been the topic of several other reports. Bank of America Corp. restated a “buy” rating and set a $6.00 price target on shares of Nokia Corp. in a research report on Thursday, September 8th. Zacks Investment Research lowered Nokia Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. lowered Nokia Corp. from a “conviction-buy” rating to a “buy” rating in a research report on Thursday. Vetr lowered Nokia Corp. from a “buy” rating to a “hold” rating and set a $5.92 price target on the stock. in a research report on Monday, July 4th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Nokia Corp. in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.73.
Shares of Nokia Corp. (NYSE:NOK) traded up 0.20% on Friday, reaching $4.95. The company’s stock had a trading volume of 8,422,085 shares. The stock has a 50-day moving average of $5.60 and a 200 day moving average of $5.66. Nokia Corp. has a 52-week low of $4.88 and a 52-week high of $7.63. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 27.35 and a beta of 1.47.
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Nokia Corp. (NYSE:NOK) last issued its quarterly earnings data on Thursday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The business earned $5.58 billion during the quarter, compared to the consensus estimate of $5.80 billion. Nokia Corp. had a return on equity of 7.60% and a net margin of 4.13%. Nokia Corp.’s quarterly revenue was up 91.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts forecast that Nokia Corp. will post $0.20 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc bought a new stake in Nokia Corp. during the second quarter valued at about $101,000. National Asset Management Inc. acquired a new position in Nokia Corp. during the second quarter worth $113,000. Advisor Group Inc. acquired a new position in Nokia Corp. during the second quarter worth $127,000. Eqis Capital Management Inc. raised 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 worth $133,000 after buying an additional 267 shares during the period. Finally, Regentatlantic Capital LLC raised 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 worth $134,000 after buying an additional 11,570 shares during the period. 4.28% of the stock is owned by institutional investors and hedge funds.
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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