Nokia Corporation (NYSE:NOK) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

NOK has been the subject of several other reports. Zacks Investment Research lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Vetr raised Nokia Corporation from a “buy” rating to a “strong-buy” rating and set a $7.28 target price for the company in a research report on Friday, July 14th. BMO Capital Markets set a $6.00 target price on Nokia Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating on shares of Nokia Corporation in a research report on Wednesday, September 20th. Finally, BidaskClub lowered Nokia Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. Nokia Corporation presently has a consensus rating of “Hold” and an average target price of $5.82.

Shares of Nokia Corporation (NYSE NOK) opened at 4.91 on Monday. The company’s market cap is $27.75 billion. The stock’s 50 day moving average price is $5.92 and its 200-day moving average price is $6.10. Nokia Corporation has a 52-week low of $4.04 and a 52-week high of $6.65.

Nokia Corporation (NYSE:NOK) last announced its earnings results on Thursday, October 26th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.64 billion. Nokia Corporation had a positive return on equity of 9.88% and a negative net margin of 2.09%. Nokia Corporation’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Equities analysts expect that Nokia Corporation will post $0.30 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the business. Capstone Asset Management Co. boosted its stake in Nokia Corporation by 203.7% during the 2nd quarter. Capstone Asset Management Co. now owns 1,492,156 shares of the technology company’s stock valued at $9,192,000 after purchasing an additional 1,000,888 shares during the last quarter. Royal Bank of Canada boosted its stake in Nokia Corporation by 56.7% during the 2nd quarter. Royal Bank of Canada now owns 1,852,037 shares of the technology company’s stock valued at $11,408,000 after purchasing an additional 670,039 shares during the last quarter. AMG National Trust Bank boosted its stake in Nokia Corporation by 5.1% during the 2nd quarter. AMG National Trust Bank now owns 430,765 shares of the technology company’s stock valued at $2,654,000 after purchasing an additional 20,955 shares during the last quarter. Teachers Advisors LLC boosted its stake in Nokia Corporation by 53.3% during the 2nd quarter. Teachers Advisors LLC now owns 6,947,398 shares of the technology company’s stock valued at $42,796,000 after purchasing an additional 2,414,440 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Nokia Corporation by 28.0% in the 2nd quarter. Aperio Group LLC now owns 1,382,147 shares of the technology company’s stock worth $8,514,000 after buying an additional 302,637 shares during the last quarter. Institutional investors and hedge funds own 5.85% of the company’s stock.

About Nokia Corporation

Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies.

Analyst Recommendations for Nokia Corporation (NYSE:NOK)

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