Nokia Oyj (NYSE:NOK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Nokia reported better-than-expected results in the fourth quarter of 2017. Earnings also improved substantially from the year ago levels. With improved conditions in North America, Nokia's Networks unit is expected to witness some improvement. Notably, net sales are expected to decline less this year compared to what was previously expected. Moreover, rollouts of next-generation 5G networks are anticipated to improve market conditions significantly in 2019 and 2020. However, the top line in the fourth quarter has been hurt by adverse foreign currency movements. Also, revenues at the networks unit declined 4% year over year. Shares of Nokia have underperformed its industry in a year.”
NOK has been the topic of several other reports. BNP Paribas downgraded shares of Nokia Oyj from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $5.00 to $3.90 in a research note on Monday, December 4th. Bank of America upgraded shares of Nokia Oyj from a “neutral” rating to a “buy” rating in a report on Monday. They noted that the move was a valuation call. Credit Suisse Group cut shares of Nokia Oyj from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $4.89 to $5.00 in a report on Friday, January 5th. MKM Partners upgraded shares of Nokia Oyj from a “neutral” rating to a “buy” rating and lifted their price target for the company from $5.50 to $7.50 in a report on Friday. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $6.00 price target on shares of Nokia Oyj in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.66.
Nokia Oyj (NYSE:NOK) last announced its earnings results on Thursday, February 1st. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.41 billion. Nokia Oyj had a negative net margin of 6.37% and a positive return on equity of 10.80%. Nokia Oyj’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. research analysts anticipate that Nokia Oyj will post 0.31 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Tiedemann Wealth Management LLC purchased a new position in shares of Nokia Oyj in the 3rd quarter worth about $114,000. Strategic Global Advisors LLC purchased a new position in Nokia Oyj in the 3rd quarter worth about $143,000. Quantitative Systematic Strategies LLC purchased a new position in Nokia Oyj in the 4th quarter worth about $116,000. ZWJ Investment Counsel Inc. purchased a new position in Nokia Oyj in the 3rd quarter worth about $190,000. Finally, Well Done LLC purchased a new position in Nokia Oyj in the 3rd quarter worth about $207,000. 5.84% of the stock is owned by institutional investors and hedge funds.
About Nokia Oyj
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.
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