Wall Street Zen Downgrades Nokia (NYSE:NOK) to Hold

Nokia (NYSE:NOK) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

NOK has been the topic of several other research reports. Raymond James Financial restated an “outperform” rating on shares of Nokia in a research report on Thursday, October 23rd. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, November 21st. BNP Paribas Exane raised shares of Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Nokia in a research note on Monday, November 24th. Finally, Jefferies Financial Group upgraded Nokia from a “hold” rating to a “buy” rating in a research note on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nokia currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.97.

Nokia Price Performance

Shares of NOK opened at $6.07 on Friday. The business’s 50-day moving average is $5.93 and its two-hundred day moving average is $5.18. The company has a market capitalization of $33.85 billion, a P/E ratio of 33.72 and a beta of 0.84. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $8.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46.

Nokia (NYSE:NOK) last issued its earnings results on Thursday, October 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Nokia had a return on equity of 8.31% and a net margin of 4.65%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Research analysts predict that Nokia will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOK. Acadian Asset Management LLC purchased a new stake in shares of Nokia in the first quarter valued at approximately $45,207,000. Atria Investments Inc lifted its position in Nokia by 214.7% during the second quarter. Atria Investments Inc now owns 84,067 shares of the technology company’s stock worth $435,000 after buying an additional 57,350 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Nokia during the second quarter worth $1,059,000. Penserra Capital Management LLC grew its holdings in Nokia by 51.7% in the 2nd quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock valued at $29,132,000 after buying an additional 1,916,098 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Nokia by 18.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock worth $2,471,000 after acquiring an additional 74,072 shares during the last quarter. Institutional investors and hedge funds own 5.28% of the company’s stock.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.